If she accepts the letter of intent then its full steam ahead.

Only went to one and it was great, partners lost steam and bailed, but that can happen any time.

I stopped buying houses built before 1940 for several reasons:They are usually full of lead paint.I don't like wet plaster or lathe.The foundations tend to have problems.Often, there's cedar shakes under 2-4 layers of shingles.I want nothing to do with steam heat.

Even Yonkers is picking up steam, I just lost A deal there. 

I steam cleaned the carpet and got a renter in the house quick.

I am working on a home that was in a similar situation if you want to follow along on the House Development Steam.

I think income steam analysis is the best bet for any buy and hold rental investment.Even at the single family level (unless you are trying to calculate in appreciation) you need to make sure that you will be meeting your investment goals at the agreed upon purchase price.

He is looking to do:Gut rehab of 2 bathrooms to include:Relocating 1 toiletInstallation of steam showerTileSink/vanitiesInstall window where there isn't oneInstall, prime and paint drywall ceiling in 1400 sq/ft unfinished basement (9' high ceilings)Build 10x12 bedroom in basement w/closet (large window present already), keeping current flooring (carpet)Build full bathroom in basement (shower only)Any GC on BP or recommendations I can forward to him?

This will provide the seller another steam of income that can be entirely passive to them.

I want to own tangible assets and be able to earn a consistent steam of income per month while being enrolled full time.