Welcome to BP and to real estate investing.Real estate is an amazing machine for building wealth, and can be used for protecting wealth, insulating from risk and gaining tax benefits, throughout the years.

Most people look at the price tag of these bills and that is where they negotiate and keep stuff like this as the low hanging fruit. 

Does anyone have experience in owning ice machines.

Originally posted by @Scott Mac:Run down (Slum) 4 plexes go for $600,000 WOW.Do you know how many SFH's you could get in Detroit for that--Just WOW.Kelowna is lower BC mainland on Lake Okanagan also basically the warmest area of all of Canada along with a huge retirement mecca,  tons of great golf wineries  fruit orchards  Big white ski mtn 35 mtns  the lake it self is about 50 miles long and great for boating and recreation deep blue water. then the mtns are loaded with fishing lakes its really quite the place and this is big for semi Rural BC LOTS of medical..

I am not sure that the deal can be fruitful for any type of loan until after you post some serious numbers for your project from date of purchase to date of re-sale.

You don't have any way of knowing what condition they got the unit in, unless there's some good documentation from the previous owner (rarely is there), and smoking takes repainting, sometimes new carpet, ozone machines, and deep cleaning of everything to get the smell out so you probably don't have enough deposit to get it done.

That said, with the added bonus of fruit trees & garden space you may find a like-minded longer term renter. 

Another example is mold/mildew in the washing machine - that wasn't there at closing. 

Does anyone currently own laundry machines in multi-family properties or apartment buildings?

He has installed slot machines, some of which work but don’t run on money.