. $6969/mo10/1 ARM. 6.5%. $5056/moWe currently have a 15 year fixed on our primary home as we wanted to go into retirement debt free on the primary home.

Focus on renovations that prioritize safety, functionality, and compliance with building codes.

I found something I am interested in and the numbers look good all around but my main concern is safety as the southern part of Bloomfield does not seem to have the most stellar reputation.

@Chris Seveney is right....you will likely pay way more than you planned to finish the project, but in my opinion, the most important thing to do is stop the bleeding by finishing or cut off the arm completely by selling the property.  

Chris Depalma It can appraise at a higher price because an appraiser will not view your purchase as a typical arms-length transaction because it is never exposed to the market.

Then, I searched for new or almost new gated Townhomes and finally paid Cash for a 1500 3/1 with garage and pool, in a 17 unit community with low HOA in Valrico on the North side of Hwy 60 for peace and quiet and safety while I travel.

(To their credit, it was a safety where you had to turn both valves to the same position.

CO landlords can still evict for all of the common grounds for eviction: nonpayment of rent, violation of lease terms, damage to property, disturbing the peace, health and safety violations, illegal activities etc. and can also still evict if they plan to conduct repairs or renovations, property demo or conversion, move in to the unit themselves or have a family member move in, withdraw the property from the rental market, or if the tenant refuses to sign a new lease with reasonable terms. 

They are a lenders attorney and deal with a lot of creditor rights and draft all our docs for us (note, loan agreement, personal guarantee) and work with title on deed of trust  I'm just literally starting out so the state is not yet decided but if my arm was twisted I'd pick Ohio. 

Sometimes a non-conforming space also helps with the numbers if you can find one that has egress and safety standards met.