Purchase price: $136,000 Cash invested: $90,000 Sale price: $260,000 full renovation from studs What made you interested in investing in this type of deal?

One last thought is your likely going to be getting a larger depreciation write off with new acquisitions.

We syndicate larger self-storage deals and work with passive investors. 

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

When an investor decides to buy a 100 year old property in a low income neighborhood it's pretty clear that they are only going to renovate it to the standards of the comps.

A good property manager can help with tenant screening, enforce lease terms, and handle evictions more efficiently if it comes to that.Require a Larger Security Deposit: Within the bounds of local regulations, a larger deposit can provide a cushion in case of damage or unpaid rent.Consider Rent Guarantee Insurance: Some companies offer insurance products that can cover lost rent in case of tenant default.

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

If they were only there a month you could re-rent easy with little to no turnover renovation.

That unit with the waitlist is the only pet-friendly home (duplex) with a fully fenced-in yard accepting more than 1 pet, including larger animals.