He kept in touch with local contractors, and one tipped him off about a homeowner who ran out of funds mid-renovation.

Like you mentioned, there is a risk for a mid term stay entering your top season.

99 percent of the time someone is selling a project mid-construction or after gut, it's because they already spent too much on it and know it won't work.

@Shawn TumaFrom my experience, you can boost rental income and manage mortgage costs by targeting value-add properties and exploring mid-term, short-term, or room-by-room rentals.

Another consideration is the permitting process and local zoning quirks, which can slow you down or force design changes mid-stream.

Current Financial Snapshot:• Savings: A solid mid-seven-figure amount currently invested in the stock market.• Primary residence: A 2-bed, 2.5-bath townhouse purchased in 2020 with a 2.75% interest rate.

If you find the property in mid-January but don't want to close with snow on the ground, then submit your offer with a 60 day closing and you'll be purchasing it going into spring. 

Look for a mid-sized PM company with a strong local presence.

But I also realize many people choose the direction of Appreciation first.In my hometown market (not Pittsburgh, but central NJ area), few small to mid size multi family properties could come close to cash flowing positively.

My two single family houses typically get rented out as mid term rentals under airbnb which offers good coverage and we have been happy with.