They offer more than just savings—you build relationships, gain leverage, and uncover opportunities no one else knows about.

technically yes but I am not sure how realistic it is unless its a very large parcel. reason I say that is typically when you give up rights they will use them (for example oil well), which requires access etc.

The short answer is that the longer you live in it the more gain will disappear. 

@Nathan Frost typical for Detroit, that's why we offer our clients several security options, including removing & storing mechanicals when vacant and then reinstalling day tenant moves in.What makes you think the seller will install new mechanicals?

------------------------------------------------------------------------------------------------Recommend 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?

Cutting to the meat of the situation, I came across a property that looked like a fixer upper, typical investment grade property.

For investment, 20% down is typical with some 15% down options out there but there are restrictions (not sure if this is available for STRs, just LTRs.) 

Madison is also a great city to invest if you're looking to gain equity a bit quicker than other parts of the state.

Quote from @Victor Lin: Hey all, I have been living in Seattle for a little over 2.5 years now and I like to think I know the North Seattle area pretty well and would like to finally begin my REI journey here.I am looking to connect with other new or experienced investors in the Seattle area to mutually learn off each other and ultimately just gain more knowledge.

That said, check with a CPA if you can use expenses from the remodel to offset some of the gains.