And recently closed on a condo apartment that I'm renting by the room.

1st step is to make sure that the electricity is rated for having electric heat by the electric company.

So far, the FOA is covered by the fruit production. 

@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Quote from @Andrew Syrios: Make sure to swing by the MAREI meetup groups.

It’s definitely a street-by-street game in many areas

But at a $1.5M asking price, as long as you don't have to spend more than $300k in rehab (without raising rents), this is a slam dunk deal that should easily be financed  at 75% LTV by a "investment real estate-friendly" bank/credit union that is located fairly close to the properties.

We mostly buy off market now but I remember that is actually how I started investing, by flipping foreclosures. 

Remember, for any claim, if you can just find one case where that proposed claim does not work it is enough to prove that claim is false.So consider this.They it was told toy uo by others is inherently flawed simply by this fact:If I give you a list of 18 year old people that don't own a house... and that list is 2000 contacts large, how many deals are you going to make?

Originally posted by David Taylor:Originally posted by @Steven Hamilton II: Originally posted by Tony Bc: We (husband and wife filing jointly) are looking for a CPA.