If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult 

That home would be a great candidate for a hard money loan that would allow you to quickly complete the renovations and exit. 

LOL it's against fair housing for a landlord and tenant to mutually exit an eviction case?

Lots of swamp land for sale...so know what you are buying and know what your exit strategy is. 

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

We exited both markets, louisville because of mandating section 8 housing after Covid and just the way they handled evictions and pyments during the pandemic.

Alternatively, refinancing might give you access to some of your equity without completely exiting.

It would cash flow nicely.One item to plan for from the beginning is the exit. 

My question is why you want to bring it up to code, other than just to feel good or improve your exit strategy?

If you are considering buying using Subject To - Subto, it's important to know what your exit strategy is.Talk to a mortgage broker (not a bank) and ask if that is a property you will be able to get financing on in the event you have to refinance quickly, because the Due On Sale clause was called.AndTalk to a real estate agent about how much you would have to bring to closing in the event you had to sell quickly.