Quote from @Thomas Meyer: I was contemplating the same thing but getting quotes around the 3 dollars a square foot.

In my opinion, that return is not large enough for the risk, although I often contemplate the idea.A website that helped me a lot when I got started, and still, is seekingalpha.com.  

I am a new investor and these are some of the issues that I have contemplated as I develop my overall plan. 

Are you contemplating buying this way?

Contemplating a bid of $55k. 

I am contemplating getting rid of the $200 per month as well as the yard is tiny and the only cleaning is the small common area and two single bathrooms.  

A real estate broker, for the purposes of this article, is defined to be a person, firm or corporation who, for a fee, commission or other valuable consideration, or by reason of a promise or reasonable expectation thereof, lists for sale, sells, exchanges, buys or rents, or offers or attempts to negotiate a sale, exchange, purchase or rental of real estate or an interest therein, or collects or offers or attempts to collect rent for the use of real estate or solicits for prospective purchasers or assists or directs in the procuring of prospects or the negotiation or closing of any transaction which does or is contemplated to result in the sale, exchange, leasing, renting or auctioning of any real estate or negotiates, or offers or attempts or agrees to negotiate a loan secured or to be secured by mortgage or other encumbrance upon or transfer of any real estate for others, or any person who, for pecuniary gain or expectation of pecuniary gain conducts a public or private competitive sale of lands or any interest in lands.

With this in mind, I am contemplating taking capital out of my Roth IRA, take the penalty and tax hit to be able to grow as fast as possible in buy and holds.

Our state lobbyist out of Olympia spoke for a full hour on the socialistic bills and ideas coming out of the city council in Seattle in the Capitol.They are contemplating or have already enacted rules regarding no rent raises when service calls are unresolved, must show cause to terminate a m-m agreement, rent control, 5% capital gains taxes on RE sales (in addition to the 1.7% excise tax), pre-'78 lead inspections, periodic unit inspections, etc.  

Very disappointed in this and I'm even contemplating making the "office" a laundry area (coined laundry).