Hi Dave,The topic is 2 years old which you might not have noticed.Closed at a 7 must have been urban core in a highly desirable area.I am seeing trade at a 9 here with no rent bumps in the primary term.For anyone wondering many tenants are credit tenants.There is a huge difference in that INVESTMENT GRADE tenants are BBB- or higher.The ones below that are considered junk status by many lenders which doesn't make them a bad investment just harder to get financing and more to put down.The dollar stores (there are 3 big brand companies nationally) with other smaller regional knock offs are okay as long as you are not buying in obscure rural locations.The fronts are usually brick facade and the sides are sheet metal.You second and third generational tenant will not have the same per sq ft sales they will leaving you with less of a re-rental return.Having said this I have seen some very nice all brick ones where the city required a certain architecture and look to approve the building permits and process.Those typically run 1 million in price to 1.2 versus the cheaper ones in rural areas at 500k to 800k.

That is under almost 1,000-year old principals of "equity" followed in English and then American jurisprudence.

While you’re at it, take care of those exterior must-haves:🚪 Install new garage doors if the old ones are looking rough.🌧 Put up fresh gutters to protect the foundation from rainwater damage.Once the drywall is in, the house starts feeling like a real home again!

*Location Matters — Neighborhoods that have high demand, quality schools and close proximity to shops and services tend to draw buyers willing to pay a premium for a well-renovated house.

I also like that it is close to a school.  

Your property is similar to mine in great Indianapolis suburb with good schools owned since 2013 - worth about $300,000 (possibly could get a little more if in a multiple offer situation), property tax $6249.

I would think landlords with 100 day old vacancies would be a good lead opportunity. 

Remember, if you sell it, you'll have capital gains that you will have to pay since you are buying the other property before you sell you're old house.

There's anywhere from $1.5 to $2,000,000 in equity, but the issue is it's owned by her 85 year old grandmother and they have no idea what to do with the property.

I’m obviously a lot older than you and when I was in grade school in the 1950s the standardized tests being utilized WERE biased, a lot of which was based on economic background.