I was told last night that I would need at least 14 feet to clear the unit in an upright corner and a 3' by 3' space. 

Much of the following depends on your capabilities and cash position, but I've always given people the advice to buy their first home with a 'safe' outlook with regards to appreciation, and schools.I don't know where you are at in life - if you've already made your first purchase, etc - but so far so good on those that have taken my advice.I think later on in life, if someone so desires and/or has the knack, is when it's appropriate to get into what a lot of folks on these forums do - the more aggressive projects where there's more money to be made.This is a round about answer but yes it's possible. 

Such a different tone in round 2.

I'll add 2 more things...since getting my feet wet and gaining the experience of rehabbing an income properties...I'm able to see properties differently and pick up properties that others look over because of fear or lack of experience.

Dont try to stuff a square peg in a round hole.

I got a job at Big White and looking buying to condo there so I can easily take care of it and dip my feet in short term rentals.Thanks for the heads up and look forward to speaking with you more.    

I'm a residential appraiser and in my market the general rule of thumb is a bedroom has to be greater than 100 square feet, has at least one window and closet, and isn't located directly off the kitchen.

Zillow estimates $840,000 now but they have done A LOT to the inside and yard so for safe measures I said $900,000. its a 3/2 1900 square feet about a quarter mile from the beach in Oceanside, Ca.

We have been on this path currently for 2 months and are finally feeling like we are ready to jump into this with both feet. 

The floor heat keeps feet and people warm which my tenants love.