The 7-year balloon is a little worrisome.

A good tip is to reach out to contractors, visit local supply stores, and check out online resources for cost ranges.

Quote from @Sam Epperson: let's say I come to an agreement with the seller for them to finance some of the deal. let's also pretend the seller owns it with no debt, and we agree to 5% down, 5% rate, and 10 year balloon. how are we drafting this legal document?

Sending a personalized greeting to guests when they book, answering their questions, programming lock codes, logging new bookings in my records and notifying my cleaners of them and any requests for early check in, paying cleaners monthly, ordering supplies, updating my listing descriptions about once a week even if it's just a sentence here or there (helps with rankings on the platforms, esp.

.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

My involvement in this dispute of deposit money began and ended in those screenshots I supplied.

Supply and demand- if there were demand-, it wouldn't be so cheap.

We focused on 1 and 2 br properties long before MTRs became trendy because they have lower price points, less competition, lower expenses, and while the tenant pool is smaller, so is supply.

Rates will be a little higher (5%/6% range) but the cool thing is that you can often find these on 30 year fixed terms unlike the short term balloons the local bank would offer. 

Overall though to answer your question, there is some supply glut in the RRG area so those older properties with less amenities are struggling some.