It's looking like our biggest expense will be the roof- there is some leakage above the kitchen cabinets.As it stands it's a 3/1, 1500sqft, paid cash no finance, PP: $62.3k, no mortgage/lien attached. 

(I attached a satellite pic with the lot outlined) My wife and I are thinking of making it a rental.

I have attached pictures for your convenience. if interested, please PM me.

The house also has an attached in-law apartment and a 12'x12' stone cottage that we do plan to use for a bit of AirBNB and SRT house hacking.We are also starting to actively look for small flips and BRRRR's in South and Central Maine. 

I submit a correctly completed standard realtor PSA with all addenda and attachments.  

If you're renting an RV that is attached to a piece of land you own then it becomes real estate. 

This is a program where 1st time home-buyers who make at or under a certain % of the area median income (say 80% or less for example) qualify to apply for the grant, certain banks receive grant funds so you would need to ask your bank if they participate in this programRehab costs: $40,000 (lot of sweat-equity)Appraised: $385,000NEW PITI $1785/month: Refinanced into a loan of $260,000 ($325,000 with 20% down, 30 year fixed rate portfolio loan @ 4.375%) and pulled out $61,000 ($260,000 minus $191,00 owed on old loan minus $8000 closing costs) I could have taken out a higher loan (due to the appraised value) and received more cash-out $, but I wanted to be conscious of what my new PITI would be and make sure I could cash-flow going down the road.DetailsBefore Renovation- 864 sq ft - 3 bed 1 bath ranch style home, , attached 2 car garage, 1/3 acre yard- Purchased foreclosed for $220,000 with a 30 year fixed rate loan @ 3.875% - PITI $1385/monthI worked with my local bank to build in renovation funds into the actual loan, where I would pay to have work done to improve the property (new roof, heating system, flooring, etc) and the bank would inspect the work then release funds to me to reimburse for the cost of each repair as they were madeAfter Renovation- 1278 sq ft (finished basement added 415 sq ft)- 3 bed 2 full baths- Appraised Value $385,000The first 6 months in the property was spent doing new roof, heating system, refinishing existing hardwoods (hidden under grey shag rug), new SS appliances, new paint inside and out, finished basement (added another living room, office/bedroom, and full bathroom)For the refinanceI was quoted by my local bank for a 30 year loan a 4.875% interest rate. 

People that are looking to move into a rental to live are emotionally attached to the property.

While I have an emotional attachment to this property (I knew the deceased previous owner, and hoping to own the other two properties next to it as a little compound), I'm also ready to walk away and say this isn't right for me and my real goals in REI.

I am contemplating selling it, but there is an 1100 SF shop (garage) attached with a MIL apt above it (approx 950SF with kitchen, full bath and 3 other rooms) that has a separate entrance.