I lived there for a couple years and I met this guy who has bought and managed a ton of property there. 

Quote from @Luke Tetreault: My Fiancé and I will be wrapping up our 2nd year of investing part time in the next couple of months.

Couple other things to consider, property / school taxes are high, and tenants have lots of rights.

Deviations from the PLRs will significantly increase the risk to you since your transaction did not follow the PLRs exactly.Deviation from Private Letter Rulings There are a couple of areas where transactions deviate from the three (3) Private Letter Rulings discussed above.

Quote from @Bailey Rentz: I've used Stessa for a couple years and I just can't take it anymore. 

There are a couple of others less commonly used. 

Some went through the process of signing the NDA, providing proof of funds, and having multiple conversations, only to end up ghosting me.I think what a lot of this comes down to is that many people start looking for a business before they’ve figured out for themselves what it is they really want, and what they can actually execute on.Here are a couple of the common misconceptions I encountered from buyers:🚫 You can close on multiple acquisitions within a year.Sure, it can be done.

I don't want to get into specifics but we passed on the property for a couple of reasons you mentioned.

I've half-thought about the possibility of doing a couple of flips in the same micro-market by adding ADU's. 

If anything’s not up to code, you’ll need to fix it before they sign off.As for costs, you’ll have permit fees—those can range from a few hundred to a couple of thousand dollars.