The top unit and rest of the townhouse is completely unliveable without renovation, the only liveable spaces are the two studio apartments that the tenants live in.

I'd sell if I were you. 1) I don't like HOAs and certainly not for STR or MTR 2) the numbers don't make sense for you to invest in a big kitchen/bath renovation 3) it doesn't look like it's appreciating very well.

All are on separate 800 square foot floors, with front and back door egress, well maintained and gut renovations were completed in 2019.      

He kept in touch with local contractors, and one tipped him off about a homeowner who ran out of funds mid-renovation.

And to think she hasn't paid her rent since July, is just breathtaking.Question:  It has been suggested to me by well-meaning friends to tell them to move out on the pretext that I will have to renovate the bathroom and kitchen.

Getting it under market value would be a bonus.So, would using an FHA 203k renovation loan, which would allow me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

Holding costs if renovation will be required (interest, builder's risk insurance, permits, porta-potties, lender draw request and/or inspection fees, etc.)

Renovated: Added granite, high end finishes and fixures, landscaping, new flooring and painting throughout.

I'm in the midst of renovating a property in a high end neighborhood.

In multifamily here in Reno, NV (just over the hill), we have seen some great deals with higher cap rates for buyers, but also very low cap rates on some renovated, turn key inventory.