If your house is old, value is low. 

Current house is 2500 sqFt 4 bed 2.5 baths. 

If you are just starting out, this is for you:When you buy an investment property, it is treated differently than a house you are going to live in. 

It says she doesn't need the remainderman's signature to do anything to the house.

If you can house hack where you are at, that alone will be enough learning to give you a good taste of what you might be looking for.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

Ours is Lucas County Housing (LMH, previously LMHA).

The best thing you can do is familiarize yourself with Housing Quality Standards (HQS) and ensure your property meets them before your initial inspection.

From my experience you should expect a 10% to 15% of gross revenue for repairs/maintenance. 

What are the odds your house burns down or gets hit with a tornado?