It sounds like there is some scale in the deal for a fix and flip, but you would surely be way out ahead of your skis to do that based on what you said.

@Alaas Amour if the seller is dumping this property - find out why!

Since we are out of state, we have to lean on a lot of information from y'all!

Lived in upstairs unit for 3 years, then rented both units out for the next 12 or so years Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I rented it out for 4 years now turning it into a airbnb it is now worth 400K What was the outcome?

However, there are plenty of charming single story one bedroom house ideas out there.

Very simple to do.1) In the hole you, spray some suspend sc insecticide inside the hole. https://www.amazon.com/Suspend-Insecticide-USA-Supply-Eradic...2) Get a beekeeper suit, just in casehttps://www.amazon.com/Professional-Ventilated-Sheepskin-Bee...3) cut open the area.4) Spray inside the entire wall the suspend SC5) Dry out and close up the wall.If this cost you $200 and some time, I'd be amazed. 

I recall asking if the 18/SQ ft was part of that 200k investment - the response was "Oh, you'll see all the costs broken out.

If you are renovating your rentals you need to let the current insurance company know what is going on, if they send an inspector out there within the time you could get kicked from the policy too, and not easy to get back on one.

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.