You both have taken action and that's significant.Now, you are on track to fix up this triplex and restore it to the rental community.Good luck with your REI activities and welcome to the world of landlording.

Purchased the oldest surviving structure in the city and did FED/NC Tax Credit restoration, full renovation, then leased it and sold it!

The policy holder can choose to use that money to restore the lost value. 

Took out all of the carpet, restored all of the old hardwood floors underneath, bought nice leather furnishings and blended them with functional antiques, placed a beautiful antique persian rug in the living room, replaced all lighting with early 1900s look.  

They have been in place for about 3 or four years and I know that I will need to do the full restoration when they move. 

(Dont let that discourage you) For example: one time the phone froze and I couldn't fix it through a simple restore therefore I took it back to the Apple store.

The kids put down 50% & we hold the note @ 12% & they have completely restored the home.

How much are you asking for the House plus how much do you estimate the needed restoration will cost and how much income can someone get from the house?  

--------LANDSCAPING/YARD CARE.Regular landscaping/yard care (mowing, edging, trimming, fertilizer, weed control) will be provided by _______________________.For all Tenants:a.Tenant agrees to keep yards, walkways, patios and decks clear and to keep premises free of junk and debris.b.Tenant accepts liability for all landscape damage and/or replacement of such, if caused by neglect, abuse or lack of water.c.Tenant may plant the beds adjacent to their dwelling to their liking, but only with those plants that are of appropriate size and type for the beds.All plants brought or caused to be brought to the property by Tenant will be cared for by Tenant.d.Tenant agrees not to cut or prune trees, hedges and shrubs.This will be Landlord’s responsibility.e.Tenant agrees to properly dispose of all plant debris and agrees to not leave such on the property.f.Landlord will consider special Tenant requests for planting and removal of plants, shrubbery and trees, but reserves the right to determine the make-up of the landscaping.For Tenants of single family homes only: a.Tenant agrees to mow, water, and keep the grass, lawn, flowers and shrubbery thereon in good order and condition, applying fertilizers and weed retardant as needed. b.If there is a failure of Tenant to keep the landscaping in good order and to follow these guidelines, Landlord reserves the right to hire a landscaping service at Tenant’s expense (after a 10-day notice to perform covenant).c.Landlord reserves the right to restore the landscaping to its initial condition, as it was at the time Tenant began occupancy, or if improved during Tenant’s occupancy, to the level of such improvement.

It really seems that right now, and based on the condition of my property (not a crack den, but 113 years old and needs a good solid restoration when the time comes), section 8 is by far my best bet...