Ensure you have enough to buy an investment property and also enough for a safety net in case something goes wrong shortly after purchase.

Thomas and the other small towns around are in extreme rental crisis mode and extreme inventory shortage mode.

I want to keep deploying capital and am in growth / acquisition mode.

You'll need to change the use from residential to hotel, which will require a lengthy process that includes physical upgrades and changes to the building.Basically the City wants the property to conform to safety standards for that particular commercial use.

@Alyssa SteinruckYou may have some contractors come and see how long it would take to repair the damages, or how long to repair the safety issues and get a better idea of what it will take to fix.If its something they can do in a week or two, you may just offer to put them up in a hotel until the major safety issues are addressed.  

There are tons of resources on this site to help. depends on your definition of wholesaling  our state Oregon does not agree with wholesaling as defined as advertising properties you don't own and your business model is to never actually own then or just double escrow them.I got tired of this debate so I got a flyer from 2 wholesalers and forwarded them to the state for enforcement.. if any ..

Please make sure you are safe (as can be - alert and aware) and not taking away energy to maintain your safety!

And after I went to the building and safety office twice and some plan alterations, I got the building permit. 

This whole business model is really offensive to me.

(Toilets are a big one)- Deteriorating paint (lead is extremely common in cities like Rochester)- Breakers, furnace filter(s), water heater(s)- Damaged/broken stepsI think it is a little ridiculous to go around and nitpick with a checklist, but we do check for issues that would cost us money down the road, or are safety issues for our tenants (and properties).