Sorry if this has been covered before, we are located in Minnesota if that matters.   

@Martti Eckert here's the big issue that no one really talks about that you hopefully find helpful (this is copy & pasted):-----------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

How goes your search for an event venue location?

The advantage is that rehab loans are based on the value of your home after the improvements.Since Home 1 will be the quickest to move on, please DM me the state where Home 1 is located, the purchase price and how much you have spent on rehabs to-date.

--------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

What is the end product of your effort and where is it located, how long will it take to sell?

Where is the property located and is it SF, 1-4 MF, or 5+ MF?

There was no emergency shut off switch before but i asked the hvac contractor to install one and he did ( located inside the apt).

While the location is great, parking is an issue, and can really only accommodate about 4 - 5 cars total at time reasonably. 

This generated $2M+ in equity, and thus is highly lucrative, but takes 2-3 years.Note worthy: I am located in California, but I did this project in Canada.