In my neck of the woods you can buy houses I’m the suburbs for 150kto215k which cash flow 200/mo on 20% down.

Henry on the Teak wood and lumber aspect.. what is the growing cycle for the hardwoods to become merch ? 

That's not exactly an up and coming area -- I'd research who built them - can likely find that by going to the SG County Recorded Docs site or by seeing who pulled the permits during const -- Wichita has been on a duplex building boom -- look at the tax value -- They probably have that or less in it on the build - I also doubt they were built to be quality long term -- things such as the trim/cabinets etc -- they all look like the cheapest stuff a guy could buy - if the cabinets aren't oak and there is MDF or pine trim and pre-hung doors with engineered wood jams I'd run.  2-3 yrs ago for $180k -205 or so you could buy duplexes in Maize, Kechi, Valley center all day to builders that were selling them off to investors - not worth that in that area.

I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.

If it is built from scratch with a full fire box, then most types of wood can be burned.  

We have not disabled ours or converted to gas, but Tenant must sign a Fireplace Addendum stating if they use it, we require a higher renter's liability policy with us as additional insured, rules on wood, storage, use, safety, they pay for yearly professional cleaning each year they are there, etc.  

I heard so many horror stories from hosts but I have never had an issue, knock on wood.  

(Other than wood trim.)People move in and they stay 6-12 years.

Hi James, I'm in your neck of woods a bit down south in St.

Faux wood floors, new blinds.