I think they have updated limits on owner financing sales as well.

I think @Chris Magistrado 2 year update post about the market, rentals, etc is a good insight to what the market really is like for most the region.

Here is a revised version of this post, updated December 2024:https://www.biggerpockets.com/forums/51/topics/1223547-expla...

Aside from that the biggest value add areas I see are as follows: Kitchens, Bathrooms, decks/patios (if added), additional rooms/bathsKitchens and bathrooms tend to be the go-to, but all of those can help you get the most bang for your buck. just keep in mind that if the area is already of high quality, then it may not be the best area to spend the money vs something that is blaringly in need of an update.

Were the tenants brand new during the due diligence period? 

You should be easily able to wait out this slow rental period.- i question your underwriting and ability to make money on a $79k purchase with $12k rehab.  

Structuring your lease in this way would benefit you by 1) locking in a longer term contract to avoid turnover costs and vacancy loss; 2) it moves your lease end date out of the winter season and into spring/summer of 2026 so it can be more easily marketed and re-rented to match the seasonal demand cycle; and 3) it avoids any upset/angry tenants who may have been incorrectly assuming their rent was going to stay in the $1,200 range after their first 6-month lease term.Would love to hear any updates you have on how this one shakes out for you though!

The unit was crappy to begin with and this didn't happen over a short period of time.

@Brandon Croucier That isn't correct... state laws allow you to enter the property within certain time periods, normally 24 hrs, with or without permission.

Over the 30 year period, I would about $10,000 dollars with the other lender if I do not buy down the rate.