Get used to this for a while before tackling REOs.

I would address this first so that I could move in there and get ready to tackle the rest of the property.

Ask them if they will take a cash contribution instead...then if the deal is sweet enough maybe the buyer or buyer/seller combo can tackle it...they either see some cash somewhere that the seller has or it's MI...additionally I have found they will either accept $50K prom. note or $25K cash at closing in most cases it's 50% of the prom. note or double the cash if they are asking for a cash contribution.

It is 3,000 sqft and much larger than I would typically tackle on my own.  

Recently there was a duplex in Wilmington but it was in rough shape and wasn't something I wanted to tackle at the time.

I don't have the youth or cash to tackle this monster and I am only 26.

A fresh coat of paint, some new appliances, etc... are no big deal, but I'm not equipped to tackle any kind of renovation job, at least not for my first purchase.And on to your third point about good management - I'm tempted to say that for a basic duplex or triplex I could manage it myself by doing online background checks of prospective tenants and hiring a local handyman when something needs repair, however for my first purchase I think its best if I go with a good local management company.If anyone has any thoughts to add, I'm all ears!

Shannon,You're not ready to tackle this.

you could take on many of those projects some don't want to tackle!

@Howard MayneCongrats on finding a house in a great area that needs cosmetic work and tackling the "live-in flip".