Mechanicals are in good shapeARV: $280k-$300k~$74kish left on the mortgage - 6.75% interest about $890 monthly payment / HOA ~$200 a month / Insurance $35 a month / Taxes $355 per month / Tenant pays Water, Gas Heat. 

If a water heater goes on your property, all your profit for the year is gone and your 15% CoC turns into 1% real quick.

The Exclusions From Coverage for a standard ALTA Owner's Title Policy provides:The following matters are excluded from the coverage of this policy, and the Company will not pay loss or damage, costs, attorneys’ fees, or expenses that arise by reason of:4.

The standard NC state offer to purchase is not assignable.

Or is the landlord always responsible for the water bill and heat?

That well has supplied water to my new property for 40+ years.

As a Nationwide lender in 47 states + Puerto Rico that is fully endorsed, there are not many lending scenarios we don't cover in house, but there are always scenarios that fall outside of conventional or standard Non-QM guidelines.

11DefineConsult an interior designer12PlanCreate project plan (timelines, key dates, who to contact)13PlanCreate budget and brainstorm financing options14PlanSecure financing15BuildGet permits and licenseses16BuildGet water/electricity/power hookups set up17BuildPrepare for build (e.g. lay foundation)18BuildBuy structure19BuildBuild and remodel structure (insulation, electric, siding, etc.)20BuildBuild out interior design (e.g. paint, decorate, etc.) and buy appliances/decor21BuildBuild out lawn and landscape22BuildFinalize the exterior of the building (e.g. paint and fixtures)23MarketTake photos24MarketCreate listing25MarketCreate websiteThanks!

Section 8 rent payment standards has the city willing to pay up to $3,120 per 3 br unit so I used gross rent of $6,240 given rent for the furnished 2/1 unit would be too variable with partners living there as they please.Phila.gov info:https://property.phila.gov/?

I'm particularly passionate about  Passive IncomeOutside of real estate, I enjoy family, working out, running 2 real estate investors group in Orlando, and creating relationships, and lastly healthy water and clean air purification for homes, schools, for all real estate actually as there is pollution and sickness because of caamination ... our water and the air we. breathe.I'm excited to learn and connect with you all!