If that is the case, I doubt you would get $1200/month for a 3 bedroom unit.While I am guessing because you did not give much information at all, I would bet the renovation would be closer to $20k for what your talking about doing.

Best bet is to call the building and code enforcement departments regarding any prooerty related violations.

Best bet is to contact local brokers.

@Jeff Piscioniere It depends on how the title is held (but I'm willing to bet is in the guy with the mortgage name, since the lender will most likely not allow other owners not tied with the note) and it depends on what you have in your operating agreement if the partnership is protected or you are exposed to problems partners might create. 

The appraisal is your best bet.

TaskRabbit, Angie's List and Home Advisor are your best bets.

I believe that multi-families are a far-far safer and more profitable bet.

Your best bet is to have your agent recommend a legit lender....require buyers to meet Their preapproval process (a real one, tax returns, pay stubs, bank statements, etc)....they don’t have use your lender for the loan, but meet their preapproval standards.

Now idea how that would be monitored but if they could find a way I bet they'd get a new level of engagement from those with a lot of experience.I know I have my own questions from time to time but don't really ask as there really isn't a forum designed for and checked by those who have been doing what I'm interested in discussing. 

@Scott Fehrenkamp I'm betting you can find somewhere that would be at least break even when you move out.I plan to pay a little bit when I'm living in a househack if I'm just renting the other side as a long term rental and am the only person occupying my side.