Course of prior conduct may be used to determine what constituted acceptable quality.

I had the sense to record the conversation with himself and the project engineer and the audio quality is quite good.

It will depend on the quality you're looking for..

You want to consider the quality of tenants you get and being in a central area means people can get to their jobs / school conveniently.

Like you mentioned , the prices are going down because a lot of people thought you could just buy a property and slap it on airbnb , expecting it to rent well without doing improvements , not realizing that the market would be overstaturated with " C and D " quality properties ( A+ are the properties i'm speaking of)I'm seeing that you can buy those type properties( A+ potential) that have simply been under utilized and 1.

@Celine Li Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Hi Jewell,The first thing is to see what is lacking the most in the property since small upgrades will have the biggest impact in the areas of low quality to start.

-Should I ask for credits to repair? 

That's why, its best to shop for quality lenders. 

I have just over $200K left of owner-financing, but I'd like to obtain a cash-out mortgage/loan of $500K (ideally) to be able to pay off the previous owner and make some repairs, etc.