Renovated Hey @John Perkins, welcome to the BP Forum and nice work!

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?

I renovated it down to the studs.

Purchase price: $136,000 Cash invested: $90,000 Sale price: $260,000 full renovation from studs What made you interested in investing in this type of deal?

One thing to note- the building is older (built in 1922), is considered in a historical district, and although each unit has been fully renovated, I have not upgraded all the electrical/roof and plumbing, so that's on the older side which I know is more challenging to get insured... 

Renovation cost is roughly $30K.I guess what throws me off is that you say Cash invested: $60 

I have renovated my own home (which I now rent out), and I've begun the process of building my DREAM community - a pocket neighborhood in the foothills of Colorado.

Depends on the town’s rules, though, so check that first.Renovation Loophole: Some places let you raise rents or get out of rent control if you do big renovations.

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

But because this is an older home that could use some renovations and the idea you may move back to Austin sooner than later, I would seriously consider keeping the home for now.