It's probably on it's last leg, we don't know how well it has been maintained.

@Jeff Williams, I think the impact will be minimal and you likely won't get your money back (in terms of appreciation) by converting to HVAC.Who owns and maintains the window A/Cs?

To get the best tenants, buy in good neighborhoods and make sure your house is well maintained and clean going in.Bob

enjoy NET 300 a month about .. in 10 years you have no debt and 30k a month net.. whats not to like.of course you have a full time job collecting said rent and maintaining the homes but your getting well compensated.. depreciation wont be much since the assets are so cheap but who cares. right ? 

It's an effective business decision while maintaining integrity.

That house will end up costing you more than the 150K that he paid for it. he is only 4 years into a 30 year mortgage when he stopped paying, probably owes 140K on the loan, taxes for the past 11 years plus liens on the house because the town probably had to maintain the property. what would the ARV be after you tear down and build a new house ?

If you want to scale bigger and perhaps leave your W2 (assuming you have one), then you may not be able to cash flow enough from of a small portfolio to maintain or increase your lifestyle.

They took great care of the place, re-did the entire kitchen at their expense & maintained it immaculately.

All of the condos on Front Beach do well during season but some HOA's fail at maintaining the grounds in my opinion.

They occasionally joined the condo boards so they could proactively push their visions of maintaining and repairing the buildings.