Its a classical "sales funnel" issue.

Financing long-term assets with short-term money is the classical road to bankruptcy.  

White is a classic color, it's not out of style and never will be.

However, if they then sell it 3 years later when the house is worth $475,000, they pay capital gains taxes on the $75,000 of gain.Now let's say your mom has this house and also several million dollars worth of furs, jewels, classic cars, stocks, bonds and gold stashed under the mattress.  

John O'Sullivan Well the classic answer is going to be a 1031 exchange, it's also the most logical.

It’s classic and won’t go out of style as quickly as other trends.

I am definitely not naive enough to think I can just jump right in to what you guys do, but am eager to learn everything I can on the subject from the beginning.tl;dr: If you could, please suggest some books and classics that I may read to get into landlording for the long term.

My only caveat would be if its a classic older home that would look stupid if you slapped vinyl windows in there, but since you're talking in the 70k to 100k range, I'm guessing that's not the case!

Yes, but you didn't ask that :)Now you are describing a classic value add.

Parked in the yard were 2 brand new muscle cars and a classic one.