Talk to your insurance agent and be sure you're covered.

Each unit is 2 bed 1.5 bath.

They will sometimes cover some of the damage with lots of back and forth.Look into companies like Waivo and Safely.

Currently finalizing a deal for another property with a different individual investor where we will have the same payout model, but they will put up a bit more cash to cover all the admin work I have to do to set things up. 

I have been in construction/rehab/renovation most all of my life so I have that covered.  

Builders do this a lot to add extra potential sleeping area without having more bedrooms than septic is rated for.I have seen people put beds in the loft after closing or even close in this area to make an unofficial bedroom.Just be clear in your pictures and description and you should be fine either way.

He can't loan you any part of the 3.5% down and you can get seller contributions to cover closing costs, etc.Just food for thought...

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

Hey Robert - Condos and apartments can be a solid entry point due to lower purchase prices and potentially lower maintenance responsibilities, especially if the HOA covers exterior upkeep.

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