With regards to issues involving the contract, it's literally "Charlie Brown teacher" to my ears.Also, only offering MTM leases allows you to more easily mitigate a tenancy where someone is acting incongruent with your initial impression of them.

Bought at $126K, as-is value $165K, and updated value $265K - that sounds a very low margin given the risk involved here. curious how it turns out so far 

Starting small is okay; it's all about gaining experience and building from there.Networking is also super valuable, so get involved in local groups or forums (other than BiggerPockets).

(especially for those involved on this website)The reason I mention if it matters on this website is because most are real estate investors(long term buy and hold) and will most likely operate at a tax loss which doesn't have an impact on taxes.The second point is, will you invest or not invest in a good investment because of what your tax rate is?

I think that overall, multi-unit buildings will be your best bet if you don't want to risk getting in trouble with condo associations. 

No bank involved just yet.

Also, when considering purchases versus refis, do you have specific criteria that help you feel more comfortable with the level of risk involved?

Thats just not an option.....Care to put some $ on that bet? 

There’s no town involvement when it comes to condo conversions.

This idea involves not taking control of a property, but instead, helping existing beach home owners sell shares in their own properties.