Get a property inspection: As you mentioned, you will need to hire your own inspection company to inspect the property and uncover any potential issues that may affect its value or safety.4.

Purchasing from overseas, I made my offer based on the advertised info and, believe it or not, did not uncover that 2 of the units were just 1b/ 1ba until after due diligence. 

So, they bought an OOS property (usually a freshly rehabbed A-grade house in a C or D area) because the house looked awesome in pictures, and the cashflow looked good on paper.

Anyone that the builder picks will be biased and not come in with fresh eyes. 

Sometimes talking to locals or joining real estate investment groups can uncover hidden gems.

Your solution looks great and gives you the option to get fresh air in there.

Fellow BPers,A2Z has been a breath of fresh air compared to my previous property manager, so far so good!

With slapping a fresh coat of paint of the decks I think it could be a very marketable rental.

The best way to explaining this is for you to download an IRR calculator spreadsheet or build your own simple one and play around with one.For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

They will have their quirks and you might uncover things as you get into it so be conservative