If the house has all major components in working order a few cosmetic items doesn't make it not livable.

House was purchased August 2024 6k sq ft 9 bedroom distressed home for 66k ARV around 330k in the middle of renovations all of the sudden the bank accounts are frozen and we now have no funds to finish renovation.

Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

One thing I continue to think about is how valuable 2-4 unit properties are becoming, and will continue to be, since Fannie/Freddie took the income restrictions from the 5% down conventional loan option for house hackers. 

A 5 unit multi family and a duplex plus my dad's house.

While I own a house in Canada, which has been my only investment so far, I am eager to diversify my portfolio and begin investing in real estate in the USA.

There could be some real interesting back and fourth discussions to be had on the pro's and con's and risk's of these sub $200k houses in the Midwest, but I've been through thousands of tenants at thousands of these 100 year old properties in my career, and I've never been sued for a sidewalk slip and fall.

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

That being said, if you're 23 and you don't own a home, I really do recommend starting with a house hack as you don't need the 25% down capital to get started and you kill 2 birds with one stone by getting a rental and having a roof over your head. 

They even sent someone from the city to the house to tell us to stop operating it as a STR.