My house was built in 2005 - I don't have new white cabinets (like almost every upgraded kitchen now) or granite/quartz countertops but the cabinets are an upgrade from 2005, bathrooms are an upgrade from 2005 base model, no LVP floors, has carpet and linoleum (that looks like tile from a distance).

It explains the team that you should develop to have a strong foundation under you while investing remotely.https://www.biggerpockets.com/blog/core-four-real-estate-team

I want to make sure I have a solid foundation and understand the ins and outs of this type of investing before getting started.

Bars will be on the windows (crime reference above).Don't be surprised if your cheap purchase costs that much or more to repair as your repair costs will be much higher than a home built with more modern materials, such as in the 1940s-1950s.

For example, 4515 sinclair built in 1938 was remodeled very nicely and sold for 1.540 mil with multiple offers which represented a 100k increase from the list price.

A SFR was built in 1947 and required renovation.The 2nd parcel, which is right next to it, is an vacant land, no address associated to it.My initial thoughts are:1.Purchase this property and rent the house after minimum required updates 2.

We'll see.if you live in the main unit while the ADUs are built, then when AND IF the condos are established, you could presumably sell the main unit right away and claim the "2 in 5" tax writeoff. 

I actually moved from the San Francisco Bay Area to Detroit and aggressively built a rental portfolio there.

I am working with folks in the Scottsdale area who purchase properties around the $800k-900k range (5+ bedrooms with large lots) and remodeling to be purpose-built short-term rentals.

They are usually built with some degree of security in mind.