We had an investment group willing to come in and zero-lot line a dilapidated apartment complex in Corvallis and give the tenants the opportunity to buy to help solve our affordability crisis here, but nonetheless, the city forced their hand by needing a half-street development after changing zoning that killed the deal.

I say that but my goal for sfh rentals here in illinois was to get to 20 houses in 10 years and I ended up getting to 83 in 15 years (I've since sold half though so I don't own that many now). 

. - half of parcel can also be sold off as only one half has the SFH and ADU on itOwner is quite firm on the price.

If I continue to charge $500 month, that's $6,000/year, If half of that went for maintenance, it's still $3,000/year.

Of the remaining 25%, half are assuming risks inappropriate with the possible returns.  

(coffee maker all dishes includeded etc).It is a dorm style lay out all the bathrooms are onsuite so there is no half or hallway bathroom

So I do want to clarify a few things about how my property is furnished that I assumed was implied, but my potential MTR does have the following: - Washer/Dryer- 75 inch mounted TV - Fridge/Microwave - Kitchen Appliances (silverware, pots/pans, soap dispensers, coffee maker, cutting boards, etc) - Multiple large mirrors on walls, fake plants around the home, living room carpet/coffee table in additon to couch. - Full office with a desk and a deskchar plus filing cabinet. - Bathroom towels, hair dryer, soap, toilettires, etc. - Grill in the backyard.

ABC kept the first two and half months of rent from the rental guarantee for tenant placement fees and utilities (water, electric).

32k or even 42k on a half million dollar house doesn't sound all that good.What's your projected cash flow after all your expenses including a likely higher mortgage payment than the current owners?

If you have 60k equity and 10k cash, slow down and remember this - you need 15k for reserves for a new property and you should always only use half of your equity which would leave you with 15k for downpayment and 10k cash for renovation.