. - RentReady repairs & vacancies between tenants can blow any projected ROIs.2) Warren Buffet - go where others aren't.

since purchasing the property with a 10% down portfolio loan through a local bank, I have done extensive repair work and renovations.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

Unless you find a buyer with a very specific criteria who is willing to pay above the typical 70% - repairs.

@Tiffani HollisFor a long-term rental, I’d avoid used dishwashers entirely—repair costs and reliability issues often outweigh the savings.

Remodeling costs increase the property’s basis, while post-rental repairs are deductible expenses in the year incurred.An LLC isn’t necessary for a single rental but can provide liability protection as your portfolio grows.

.- Can't see a Senior-Only complex allowing Short-Term-Rentals (STR).If so, SELL.2) What is the history of Association Fee increases and how well capitalized is the Association for future repairs?

Any repair issues the new acquisition has you will feel to much greater magnitude due to the property carrying a lot of debt.

There are still a ton of roofs with blue tarps needing repair/replacement and some debris sitting curbside.  

FHA loans are a great way to get started with a small down payment, but make sure you have some reserves for things like repairs and vacancies.