@Matthew Paul I like that expression, but I've never heard of that one - does that come from the Indiana Jones, 'switching sand bags' as weights in replacement of a gem stone/chalice scene?

Excellent reputation, and will add a lot more weight to your offer than a credit union.Also if the property is in DC proper....frankly you have very little chance of getting an offer accepted with an inspection contingency.  

What I do know: Privately ownedLast sold at over $600,000 in 2015Last assessment: 2016 at $128,752.1287Classification 2-09Tons of violations for poor upkeep Rat investationPoor lawn maitenanceTons of trash(doesn't seem like an issue at this time... no rats seen on the way to work)What I would like to know: Would this be worth tearing down?

I understand that I can get a much larger house with only needing 3.5% down, however the repairs and upkeep are still going to be scaled to the larger size of the house.

However, there are a lot of hotels looking to build in and near downtown Waco and you best believe they will start lobbying and pushing their weight around to get STRs banned or regulated as much as possible when they start moving forward with development.

However, in your math you need to account for upkeep of those properties as well.

I mean it makes me proud listening to them talk through all this with no HINT of this being an emergency. which they finally declared and there are pilots that can literally fly an entire career and never declare and emergency.Bottom line approach at their weight was about 140  this guy came barreling down final at 180 to 190 thats a big deal in a Commercial jet liner..  

As far as finding the property, a good realtor is worth their weight in gold!

It will be reported as rental income.You will also be entitled to take ordinary and necessary deductions used to upkeep the rental business which includes items like repairs, utilities, mortgage interest, real estate taxes, depreciation etc.

Ask the dumpster company how much weight comes "for free" with the dumpster, and what the cost per ton is for going over that weight.