If you have solid documentation for your position, you are probably OK.

A cash flow-positive property is ideal.Financing Options: Explore loan options like FHA, which may allow you to buy with a lower down payment if you live in one unit while renting out the other.3.

: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.

It’s tough to be in a position of uncertainty, but getting informed and organized will help you navigate this situation.

We also have a decent savings account and a strong income, so we’re in a good financial position to make some moves with these properties.I’d love any advice on how to proceed, including options I might not have considered, and how to best manage or renovate these properties for the long term.

If the window will not stay in the open position, an inspector, who checks that specific window, will fail it and require repair in most jurisdictions.  

Before I looked at the deal, here's what I asked from him:The purchase and sale agreementRehab breakdown documentation2 HUD statements of previous dealsDeal info (Property profile, funding, security, repayment plan, etc.)Title company involved in the transactionWhat I also asked for was a term sheet from the hard money lender that was lending at first position.

(both loans assume 15yr fixed) That gives a positive cash flow of 350/mo. much better. 

In this transaction, the value added wasn’t through physical renovations but rather through quick market positioning and strategic timing.

Though we didn’t renovate, our strong market positioning, negotiation skills, and understanding of buyer demand allowed us to flip the property at double the purchase price within one day.