The new owner will be able to decide if they will gradually raise rents to market or have tenants move-out, renovate and mark-to-market.

Lump-Sum Return After Project CompletionThis is a more flexible structure, especially for short-term projects like flips or renovations.

Both of them can help guide you through the process because either way you will likely need to prepare architectural plans to get submitted to the city.When you are ready for the renovation, let us know and we can surely be a resource for you in that department.

A young couple or family can still buy a house for $250k.Another top of mind examples is my wife's hometown of Bowling Green, KY - hour north of Nashville, growing, and still affordable.Or do what a buddy of mine just did - paid up for a 3 unit in a premier neighborhood in Boston.

Also, put any repairs pointed out by the inspector into the following categories (by priority)1) Health & Safety - to avoid tenant injury and potential lawsuits2) Property Preservation - to stop further costlier damages3) Government Required - city inspection repairs & S84) Marketing Negative Impact - who'll rent a house with purple bedrooms?

The houses in the neighborhood are actually really nice.

If you are in a college area, maybe having a study room/den could be interesting with the house pre wired for internet.If you are really set on your buyer being a house hacker, another interesting option for house hacking is to have each room with their own locks, etc.

We’ve had great success with our listings, regularly achieving 5x the market average ADR on Airbnb and receiving frequent offers from local realtors to purchase.We’re now considering scaling up with a new project and have been approached by a friend who’s interested in partnering with us, providing financing for renovations.

The inspector pointed out structural issues, potential plumbing issues (hard to confirm since the water was not on but scary enough) since the house was built in the early 1900's.  

I have flipped two houses with my wife, and I have read virtually every book on the Bigger Pockets bookstore (see attached image).