It doesn't take long to learn how to spot a good deal.6.

You are spot on and this is the kind of detailed analysis we are looking into now! 

Maybe look for a sweet spot where you can raise the rent and not have tenants leave and not need to do immediate renovations

Many of the above comments are very spot-on.Not sure if this comment will help, but maybe there's a way to get the best of both worlds if you can build this studio separate from the building and split the lot? 

Not only will you make good friends, you’ll make connections in the industry.  

It will be easy to spot. 

There is 1 parking spot on the property and is being charged $50 a month (a tenant is paying extra for it).-  I confirmed the tax rate and took the purchase price as the base.- Any other information would be helpful.Thank you again. 

Seasoning is just the lending industry jargon for a waiting period.

Hey Ashley,Accounting/Bookkeeping is not my strong suit so maybe we can help each other out.I run a real estate company in Birmingham AL and I've been in the industry for over a decade. 

Reno, NV, is a prime investment spot due to its strong property appreciation, with values rising over 10% annually.