Interestingly, the records do include the downstairs space as part of the livable square footage.

The home needed a lot of work including roofing, windows, siding , kitchen, baths, and mechanicals.

Does that include any utilities? 

After conducting thorough due diligence, including a professional inspection and market analysis, the property was acquired for $72,000.Renovation and TransformationThe renovation aimed to modernize the property, enhance its appeal to potential tenants, and maximize its long-term value.

That is just the loan payment and doesn't include your insurance and taxes like a typical mortgage payment does. 

No attempts to "pull one over" on anyone here--in fact this deal and partnership idea were brought to me by the other would-be investors (including the deal finder), because they're interested in making it possible for my wife and I to move closer to them (currently living in different states).

Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.The property rented for three years, generating steady cash flow of $450/month.

A couple of things happened in the last few months including a lump sum pay out for a retirement from a company for whom I previously worked and I inherited a modest sum unexpectedly. 

In Milwaukee the weather can get pretty cold and we want to protect the tenant, but also the pipes in the property from freezing.For that reason we do have a stockpile of emergency equipment which includes electric space heaters.

That’s because it can include renting furniture and decor to more fully transform a space.How Do I Know Which One To Pick?