Is the garage still functional?

I don't care how good your CF is, you are not going to drive the IRR strictly on CF - Bob knows this, and this is what I think his argument is.Now - with this being so, in the apartment space appreciation is a function of value-add.

Use the key word function to be informed of topics of interest.  

The place doesn't even have a functional septic system and is in very rough shape (I plan on $100K in reno) so I am not sure how they are going to move in let along get financing for it. 

I could have the studio portion of the property (now functioning as the living room/kitchen) maintain its shared entrance with another unit in the property.

In Washington they would need to go to the department of licensing and fill out a affidavit for lost title which would function as a temporary title until the replacement comes.

I would analyze the apartments as a separate function and and make my decision on that.

I find a noticeable difference in pristine, showroom sales condition and what I call or have heard called fair "rental condition" (clean, functional, but not perfect)...Unless you get a  super careful tenant, your unit will be closer to rental condition after the six month tenancy than pristine sales condition.

Did you use the search function and search for your question before posting?

. :-)I gave up on Zillow because the search functions aren't as good for me as Redfin's.