Picking out a house

[Chris Lo]

I found this one house that i liked. My plan is live in it for 1 yr and rent it out to maybe 2-3 students.

The location is good, the house has lots of potentials for an improvement (i think), and the size is good.

Built in 1925 and renovated in 1962.

3 bed 2 bath 1500 sq/ft. But it doesn't have a garage. This is something i really don't like about for myself.

So i have a couple of questions.

1) Not having a garage, is it a huge deal breaker for the future tenants or students? I'm in michigan. It snows a lot and cold, and i won't be living here forever so i can live with not having one for a bit.

2) According to my friend, the exterior is cedar wood which looks very worn. By the look of it, does it look like in a bad condition or this is how it's supposed to look?

3) 9 houses away from this house, there is a large Senior Apartment building which offers Studio/1 bath, 1 bed/1bath, 2 bed/1bath and such.

Would they have any affect on me when i start leasing/renting out the house?