These are typically bedrooms without sufficient fire egress (e.g. an attic bedroom with no fire escape; a basement unit, etc). 

The first question to ask is: "Can I legally offer rent-to-own/contract for title in the state in which the homes are located to escape all the rules and regulations that govern lenders?

Building constructed in 1980Present loan value appx $77k on a 15 yr note with 3.375% interestP&I pmt is appx $602NOI 2014 was $11489NOI 2013 was $5142      (spent around $4k on updates/remodeling)Appx $27k by my calculations of capital improvements needed in the next 5-10 years to increase the value of the property, properly maintain it, and keep it functionally up to date in order to attract higher quality tenants (located in a b grade area) (I'd rather have more invested to have higher quality tenants - have my own reasons for this line of thinking - willing to sacrifice a bit of profit to have good people)- Redo Kitchens- replace doors and all base trim/casing (more for my taste and would help the place rent out even quicker)- 2 escape windows installed for basement bedrooms- Concrete work needed on patios and near front of the house -- need to be done in the next yearProperty based on comps in the immediate area and a tight supply of decent duplexes here is $175-210k or so.  

Tampa/Clearwater, however, is too much like SoCal, which I finally escaped from.

If I do the deal, one escape route I'm strongly considering is splitting the land into two lots, allowing me to sell off each home individually.1. 

Hi Jeremy, I had to reply because I am escaping California.

South Warren is just everyone from the Pershing and Osborne neighborhoods "escaping" the City.Sterling Heights with Uitca Schools is a great value.  

I've decided to place an offer for around $11,000 and subject to Joe pulling the proper permits and having the proper inspections completed by the town building inspector (and of course another couple escape clauses).

Great for traveling & escaping if hurricane comes in.

everything I have studied has said use as much OPM as possible just make sure you always have an escape plan.