Quote from @David Mancia: My Name is David Mancia, and at the end of last year I finally took the plunge and decided to contact RTR to buy my first out of state property, and I was contacted by Ms.

Taking the current cash flow out of the way. 

@Jesse Simmons  I did a similar deal as this in the past. 

That’s what this community is for.

In short, this would be an entirely appreciation-based investment.Given the state of the economy today, with high interest rates and the seller-buyer lock out effect, I want to discuss the pros and cons of this investment at length, specifically in the context of all the other properties / neighborhoods that I have been evaluating. 

I would do the shower renovation first, then take the cashflow and stash it for a rehab after this tenant leaves. 

This is a great place to learn and to connect with people so take advantage of all the great resources.

Neighborhood Scout is not going to cover any shortfall you have if it doesn't materialize.you could try finding a bank or broker that will do 80% out on a refi, although probably not possible to close by the end of this month. 

If this is not possible, take some time to get to know and be-friend the other HOA board members before you waste money with an attorney.

This will show trends and help you see the bigger picture.