In the long run I figured it out, but until then it cost a lot of sweat equity (and all my free time) while I was scraping off wallpaper and replacing toilets. 

Are there lenders who will do a drive by appraisal, or one based on broker price opinions that won't cost as much as a full appraisal?

In most other states you can use Escrow companies but you can also close with attorneys, they just probably cost a little bit more. 

@Roberto Costa We just lend in NC.

Keep in mind that many features in Rentec are sold as add-ons, rather than being included in the subscription cost as they are in Buildium.

There is a house on the property, but is pretty run down and would cost a lot to renovate.

Even if the roof is falling in it's probably still cheaper to just repair it, all the infrastructure, utilities, surveys, permits, soil studies etc cost a fortune.  

I will continue to run numbers on multi family but I need to almost double my cash flow vs a single family that's cost a little less before I will invest in one.

It may cost a few bucks but you’re better off having it done right until you learn the ropes 

Even if it takes a couple more months to get a good tenant in it cost a lot less than a none paying tenant for several month, court fees and rehab fees.If she cant pay 1st last and security right now she most likely isn't going to be able to come up with it after she gets in.