Since the house was fairly new, there were no major expenses other than the cosmetic things we did.

I am majoring in Architecture so I will be NCARB certified and have a license in the future.

@Mark Towey I don't "farm" areas personally, it doesn't really fit the niche I'm personally going after, but what I have heard from some major agents in my market lately is that farming is not near as productive as it used to. 

I saved money for a major renovation project that is eating up most of my reserve. 

They will let you know what you can and can't do without a permit and what you are able to do yourself within the scopes of those permits.My concern is because this is a rental, if you do anything that is not to code and the tenant reports it, you will likely have some much bigger issues to deal with.Given you note this is major rehab, I tend to lean to hire most, if not all, out. 

I would say if those are the true numbers, the place would have sold instantly already.Purchase of $179k and rehab of $150k to get a value of $735k is almost unheard of.Main red flag is that something else major is wrong with the property.  

With him being a Real Estate guy, I cant see him doing something that would put a huge blow to the industry.Maybe the majority of our building materials is produced domestically?

Neighborhoods near major employers like the AFB often provide reliable rental demand, which is a great foundation for a long-term hold strategy. 

If it's a good fit for parents, they'll find the property on the major booking platforms.

Quote from @Lawrence Mitchell: I've read a few books on real estate and something the majority of them had in common was the BP community so I would like to see what it has to offerHey @Lawrence Mitchell, welcome to the BP Forum!