By renovating the entire house, gutting everything, fully renovating the pool, and with approved ADU plans.

Quote from @Kyle Souza: From this groups experience, what sort of "gut checks" do I need to make to make sure I will qualify for debt on my first Apartment Acquisition?

Analyzing deals can feel overwhelming at first, but with your finance background, you’ll catch on quickly!

@Blaine Alger   Do you feel like now with WFH, there is more demand from people that might normally work in Austin or Dallas that want to live in Waco for better pricing and smaller city feel?  

I feel for these older folks on fixed incomes where large increases back to back are painful.

Feel free to connect with me.

Purchase price: $85,000 Complete gutted single family home on double lot acroos from Buffalo Lake.

Maybe if you really like these guys and their work...and feel that they honestly got in over their heads, you could throw them an extra $500 just to appear 'nice'.

If you want to try lending and do some buy&hold, then 1) find an experienced HML/Agency and lend through them a few times (they should be able to get you a decent return even after fees) & 2) leverage an experienced syndicator and join their deal as a passive investor - you can always learn about syndication through this "back" door if you will, while making some passive income and enjoying tax benefits of buy&hold investing.If you'd like to speak about it further feel free to PM me.Good luck!

Feel free to ask anything, anytime.Cheers!