I’m aiming for a mix of appreciation & positive cash-flow after some value add work is done to the property over the course of first year of ownership.

Cash flow goals are awesome, aiming for $5k/month is ambitious but doable with the right strategy and a bit of luck.

I am aiming to overfund the initial purchase if I can to cover property, repairs, assumed mortgage cost for months of no income (assuming 6 months max), and any variance.

Since prices are high, aim for properties with at least a 1% rule.

Without having more detailed info on what you plan to do with the money, I would aim to keep this investment condo. $400/mo isn't bad at.

Focus on living within the SSI allotment, supplemented by the interest on the $1M, and enjoy the freedom from Landlording stresses.

Make sure the gaps are caulked, sill slopes, everything is painted with a nice glossy finish and the shower head won't aim directly at the window.

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Hello BiggerPockets Community,I'm embarking on an exciting journey to acquire and renovate a duplex from 1900, aiming to tackle the inherent challenges of outdated insulation and the lack of modern vapor and air barriers.