She is interested in buying the property and is installing mini-blinds, gutters, and maybe a new dishwasher at her own expense.

Its weird because there are crappy run down apartments and houses next door to beautiful restored classic mini mansions.

Before anyone even meets with me to see the apartment or house for rent I screen people with a mini application (verbal or written) and on the mini application I mention verifiable income and debt to income is the most 2 important items.

Think scraping a $700K house and building a 2.5 million mini mansion in it's place and looking for a $300K-$400K profit.

Plus you can finance up to $5,000 of repairs into the loan (like a mini-rehab loan) just as Account Closed can advise you on that) or just stop there and enjoy more free time...I have friend who quit his job and just manages his properties now.Also most lenders need only 45 days or less to close your loan so if you need a home by August you are just fine for time ! 

He also mention a rather interesting idea, behind the building is quite a substantial piece of property, which he considered building 10 mini storages for contractors, which could potentially generate an additionally 5-6K monthly income.

I finally decided to take the plunge and move out of lurkdom and actually start posting. I've been listening to the podcasts non-stop for days. My waistline thanks BP due to the increased number of runs I've been taki...

I have 2 duplexes I’m looking to sell and roll into something bigger . 8-16 unit min. I

  @Stephen BagnaniIt seems you should just buy a trailer park, mini homes that people rent. save the contruction cost- let people haul in their own homes.

There are specific regulations from CFPB that you should follow, including reading the mini miranda disclosure on every call.