The flip side is you have now a tailwind from considerable market appreciation that can do some of the heavy lifting for you, so by the time you are done with your rehab (forced appreciation) the market will have also moved on.

This is where I see so many people get caught up and are never able to actually pull the trigger on an investment property.  

Hello,Thank you for reaching out with your financial considerations.

I'm trying to help you be comfortable with what you buy BEFORE you pull the trigger.

I know his cost basis in the property is likely very very low, so selling would trigger significant capital gains and depreciation recapture. 

We've lowered skip trace pricing considerably (keeping quality high).

Noooo you triggered the keyword alerts.

I commend you for pulling the trigger based on having just enough experience, and not over analyzing. 

We've always been interested in investment properties and have been following BiggerPockets for many years now but never pulled the trigger.

There are many risks, consideration, knowledge, strategic planning, decision making, and real experience skills that are needed to succeed in real estate investing.