I have watched folks buy seconds thinking they just bought a 400k prop for 50k.. that type of thing.. but if your in a rural area with not a lot of activity it can work..

What made you interested in investing in this type of deal?

In general medical professionals are looking for smaller units (studio/1 bedrooms) not 2+ bedrooms- In order to understand corporate demand you should research the types of corporations in the market and figure out if they bring traveling / temporary workers to the area because not all corporations do- You didn't mention colleges but if there's higher education nearby this can also be a driver of MTR demand.

Let’s see what type of numbers you’re looking at.  

What made you interested in investing in this type of deal?

I know mortgage lien will be extinguished but not sure the other types.

I would convert them to the same type of rental.

(I had additional carrying costs from a HELOC, which meant I walked with around $45,000) What made you interested in investing in this type of deal?

.- Consider using tools like the BiggerPockets calculators to run numbers and see what kind of cash flow you can expect from different types of properties.1.

What made you interested in investing in this type of deal?