In retrospect we got lucky because the VA approved it even though it was basically a cosmetic gutter with great bones and a FANTASTIC neighborhood.My husband and i completely fixed it up with a little family help in the beginning.

Yes, even though if the numbers work and there's plenty of meat on the bone, some will feel why should YOU be making so much, etc., etc.I'm trying to figure out why a house that was just built for $5 million and is free and clear is being sold for $1 million. 

Best to cut your living expenses to the bone and figure a way to generate some income other than those funds.

Make no bones they have has some horror stories as many flippers do.

If you can find deals with $50k on the bone and be fine with making $20k, you can make a nice living doing 4-5 of theses a year.

Automatic mentors who can use their wisdom and experience to help you see if there's enough meat on the bone for all kinds of properties.

Upgrading an old building could make sense, if the basic "bones" of the building are sound. 

They will still leave  a little meat on the bone to sweeten the pot for the holding investor.Lot's of money now chasing what little value add is left for multifamily.

If I can start with a two star park, it’s got good enough bone structure to it that I can build upon it from there preferably in an A, B, or C area that is actually ready to go up in value.

I work on a tissue machine here at our paper mill in town.