Set them up in a way to meet your timetable and then if you want to jump up to a larger complex then do a 1031 exchange.

It helps to set a timetable for Action.You may want to join us at an upcoming meeting, site in the signature below.

And you get to reset the depreciation timetable.  

In my opinion, the 1031 is the superior vehicle because there is no required timetable from original purchase to sale, and you don't have to live in the property.

I don't know if you will needed licenses electricians and plumbers in your are but that will def. increase costs a lot.Also keep in mind that you will have to pull permits for the work & that can push your time table out of wack.But it seems to me that what he want is not unreasonable. if you bought it at 50, even with holding & closing costs you will have a very big margin for overages.

If you adjust your time table for your move out you very well might be able to make money off this place and use it as a spring board into future investments.

Some of this also boils down to your timetable.

Shotgun vs rifle approach.You are correct in your assumption that by far most people who start working probates give up way too early, as they have insufficient faith in the niche and perhaps their ability to build a business on their timetable.

Since the time table for the new appliance is uncertain, we did not put that into the lease, and the lease still stated tenant are not allowed to replace, remove, repair...appliance without explicit written permission from landlord. 

My contractor gave an estimate for the turn-around of a serious fixer-upper, and I was wondering how his time-table compares to the average?