I'm not a CPA, no legal advice given.

The property was impacted by hurricane Helene and there is no substantial damages letter issued (yet?)

No but keep track of those repairs as it will add to your cost basis when you go to sell it and have to pay capital gains.

The generally equates to a tiny 3 bed 1 bath home that is in need of renovation, and either no basement or unfinished.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

More and more (1) and (2) no longer apply. 

And no, we don’t own Princeton University.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I also have $100,000 sitting around from him because I have no idea what to do with it help!

With no mention of price, location, rent etc.....