@John Balzowski  a lot of flippers cut corners to make their deals profitable.Many also get better acquisition prices.What's most important about any type of investing is properly understanding ALL the risks & rewards. 

You can find them in the events section under Zen and the Art of Real Estate Investing.

I personally review the lease section by section before they sign it.

Maybe I wasn't clear and I apologize, yes appreciation is always important and agree thats where we make the lions share of profits ... but my crystal ball cant see around the corner let alone 5 or 10 years years out...

For example, the unemployment rate, relatively low, is 6.5% versus MA's 3.5%It's been a long time since I was more familiar with Springfield, so I'm not sure about the impact of the casino.In general, similar to other working class cities like Fitchburg, in Springfield I'd imagine you'd fine the following conditions:- Attractive Cap rates- Medium vacancy- You're paying a realtor or property management company to find tenants (in higher end cities the tenants pay the realtor fee)- Section 8 tenants -- could be a negative or positive, depending on your view.

The plan is to renovate it and create affordable housing, possibly section 8 only.

I did not find any relevant section in which to ask this question.

It was basicaly a private road , there was water and sewer up to the corner of the mans property . 

My questions is how does section 121 apply in our situation(married couple)? 

I personally like LTR as a strategy since once you attract high quality tenants, it isn't that much work relative to MTR and STR strategies, but the key is you have to look for properties where you can add bedrooms, so you can do rent by room, rent to market tenants, rent to Section 8 tenants, and the more bedrooms that you have the higher rents you will get.How to do you add bedrooms?