Meanwhile, I'm talking to this guy and he said in his other property, the little old lady paying long term rent, moved out, and within a week, the neighborhood people had broken in, had a party, broke most of his doors, stolen all his copper and HVAC, etc.

Samantha Reeves,Thank you for your reply I went through the Handbook , and although it's quite detailed , it seems to me that as Long as the Roof is in Good shape, there is no Peeling Paint on the Exterior of the house, and that the HVAC system is in working order , as well as there are no Safety hazards regarding  the property/house.What I'm not sure on though , is what if there's Some rotten wood on the exterior and or you want ( Need ) another $5,000 to upgrade the house .....new cabinets, faucets, flooring, re-paint the inside ?

If we add a mini split, we will also need to upgrade our electric panel, as it is currently full.

I’m not making much on rent and the house needs HVAC upgrade as well as cosmetic repairs.

If the counter tops are in fine condition, then you can keep them and as time goes on maybe upgrade them.

Let’s just pray that we don’t get a “hot” inflation reading between now and then.Average 30-year mortgage rates have broken convincingly below 7%.

Mortgage 15/1 arm at $3.375% with max 4% interest increase due 15 years from July 2015 (Aug 1, 2030).Current condo monthly maintenance fee : $1036 includes water, amenities (pool, tennis court, concierge, gym, sauna, community room with pool and ping pong, maintenance)Current monthly mortgage payment: $499 interest, $504 principal Monthly taxes and insurance: $459 monthly contents insurance: $38Past Assessments: $11k for building HVAC upgrades $8k for building updates and building reservescurrent market value $400k - $425kcurrent  monthly rental median: $3100-$3200monthly landlord insurance: $45I'm also trying to decide if I should rent or sell and invest elsewhere.Appreciate all insights.

REI investors need to be broken up by type and bandwidth or existing equity to apply this discussion.  

Termination right if STR no longer allowed, profit sharing, purchase option or ROFR, length of lease and lease options, how to handle major repairs, who pays initial investment in upgrading property, etc.P.S., this is also similar to co-working locations where the operator signs a master lease with the building owner and then rents out cubicles to individual customers.

I'd like to make some rental friendly upgrades and upgrades In general to my 1910 home but don't know where to start.