I’m here to learn as much as I can, meet like-minded people, and get advice on making a solid first deal.

You could force the seller to bring it up to code before the sale is complete as one of the contingencies of buying it, let them deal with it.

I also have a lending partner who can finance STR deals with only 15% down if you wanted to preserve some capital.

While buying one that’s up and running might seem a good idea - paying for speed - if you’re not quite ready, sometimes the best deal you make is the one you don’t make at all.

The quick answer is "yes" AND there are deal analyzers on BP's site.

I am in the Milwaukee market and we deal with this often.

In addition to public Service Jesse Brewer is a real estate broker with over 20 years’ experience in dealing with rental properties both as an owner / manager, but also as a broker selling them.

I would get the same deal if I did another with the same lender. 

Was that deal a multifamily too?

Find an area to focus on, research it for 6 months, then score a deal.