That is not true, if you start too early and lack experience and then have a deal go bad, it can set you back 5 to 10 years.

This is especially true the more people you try to cram under one roof. 

It is a true 2 bed/2 full bath, so I'm assuming it would rent similarly to a 3 bed/2 bath in the same area.

I don't blame them if that is true. 

If not, stop looking for up and coming, look for tried and true.

Hearing from many testimonials by talking to real Padsplit owners in person, it seems to be a true cashflow machine coming from a single family residence.

There's no true data source that aggregate all the data that you look for (at least to my knowledge).

There is less competition now and the saying "Don't wait to buy real estate, buy real estate and wait" ALWAYS holds true!

I don't beleive this is true based on the IRS site stating you don't have to issue a 1099 if you are "not engaged in a trade or business."  

I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area?