Stupid me for not realizing it was only for 1-2 years which is essentially floating rate updated annually or every 2 years.

If you buy an outdated smaller 2bd/1ba home for $150,000 in an area where remodeled 3bd/2ba homes are selling for $300,000, and you know it will cost $50,000 to update the home and add an extra bedroom and bathroom, you can be relatively sure you will be able to recoup your investment. 

@Abel Eskinder your BP Profile is blank, so no idea if you still live in Ethiopia or where you currently live in the USA.Suggest you update your profile and add your goals, what help you need, etc.

You want updated security and a smooth running device. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.

My ultimate goal is to transition into full-time real estate investing.My current home is a 3-bed, 1-bath, approximately 1960 sqft, needing updates.

I'll provide an end of year update on my portfolio.

Does anyone have any updated perspectives on this area now? 

They can talk to the insurance company for you, make sure repairs are done quickly, by licensed professionals,  and keep your tenants updated (if needed).

You want to lead with you being a new local investor who walked by the house and saw it was in disrepair and thought you could be of help sending updates on the property.