It's a massive difference between spring/summer. 

One of those games is to dial up your depreciation by breaking out certain components like appliances, carpets, concrete etc.

The home is an 1940's concrete structure elevated off ground by concrete blocks.  

You'd still have to put up some of your own capital and give up some upside however you'd take massive risk off the table.Another option; get a 50% LTV 1st Mortgage and use the proceeds to buy more properties that generate income day one.Land development is a high stakes game. 

The costs alone will massively eat into your profits and a home run might become a base hit, at best. 

Want to finish the outside concrete patio as one last large project and be done with improvements.Hindsight: Should have went with a 3-4 unit place but just glad to get started.

On these less concrete criteria, be careful that you can justify a decision. 

The main floor 500 sq ft is a concrete slab and should be fairly easy whatever goes in.

There is some concrete work that needs to be done on one of them, and a fire escape eventually needs to be replaced on the other.

Not knowing the eviction rate at a property can throw a massive wrench in your business plan and return projections during the first few years of ownership.