The bedrooms need the carpet removed and the hardwoods redone allong with a fresh coat of pain.Also im wondering if i could put a room in the basement and rent out the three bedrooms.

I walked the outside of the outdated property and snapped some pics, rolled some numbers in my head around:Mid-range ARV around 400knew doors and windows throughout, 15k including entries for good stuff (I know that's high, better to err on the side of caution)fresh paint in/out at $5 per sf for good stuff, call it 9kflooring throughout, 6.2k at $3.50 a sf2 bathrooms, 15k kitchen 20k including appliancesso about 55-60, plus some extra for unforseen and pool, so 65-70k, leaving me an offer of 200-230ishI'm sitting in this driveway for a solid 45 minutes taking notes, running numbers, pulling title info & last sale price/date (Chicago Title mobile app), etc.  

@Imran AhmedTo your question about Cape Coral waterfront properties or not, with duplexes or triplexes you might find some on fresh water canals but it's rare to see them on gulf access canals.

. :) I live so frugally that my wife and I can save a fresh 20% down payment on a home every 9 or so months...Lack of capital isn't really a thing if you work full-time and live frugally.

Other than that the siding and deck needs to be cleaned (surface dirt), maybe some fresh paint and it's ready for renters to occupy.

I'm beginning to find that our problem is more with the fact that we are both fresh out of college (and i'm still in grad school) and she's still looking for a fulfilling job.

I have a couple of properties that need minor work with fresh paint and carpet.  

Owner financing can be a great deal but it can also mean the owner is not prepared to show you the full financials (they often done have them and under report income to the IRS) or there could be some 'surprise' infrastructure or other issues that an appraisal and professional inspections will uncover but a quick OF due diligence period might not.Definitely talk to city/county officials to see if permits are needed to operate the Park.  

Uncovering how motivated they really are 4.

What happened is as we were walking through the living room, we were kicking up little bits of felt and they were then settling on the freshly painted cabinet doors.