I plan on renting out our current home in Aurora, IL whenever we decide to upgrade houses in the next year or so.I want to get into buy and hold investment properties, primarily SFH to start off at least.If you live in Aurora/Naperville area and want to connect, hit me up! 

Out of curiosity, would you be required to upgrade that to a Central HVAC in your state for rentals?

The money would be better spent on some type of upgrading to one of the units. 

The park was established in the 80's and has a septic system that was recently upgraded.  

There shouldn’t be any further repairs/upgrades needed….New roof 2014, new HVAC 2014, new hot water heater 2013, new appliances 2014, new doors 2016, new bathroom 2016, septic tank line replaced and tank pumped 2016.Just looking for guidance on whether I should hold or sell….Thanks in advance!

Usually the city has a list of requirements that need to be met (timelines, upgrades, etc.), so it is best to have someone who knows that process with the city.Since you are deployed, having good contacts is of the utmost importance in getting the building back on line, or demolishing it.Good luck and keep us posted.Jim

FHA gets very picky about things like peeling paint, broken or cracked windows, missing railings etc..

How many bathrooms need to be upgraded, does the kitchen need to be upgraded?  

How far did you upgrade the bathroom(s)?

I see it chanted ad nauseum about "soft landlords" on these forums "file on the 10th", "no exceptions", etc etc etc...That's not that question and I've ALREADY FILED.But I'm in a good area and screen hard, so this is the FIRST TIME I've actually had to file....Unfortunately this is one of the more "frugal" client landlords (and maybe not coincidentally my first)...I had to rent this townhome with stained carpets, broken fridge, damaged kitchen flooring and more.....Of the terrible prospects he had, he incidentally picked one with roommates/family members with bad credit and no rental historySo it's no surprise to me we're in this situation, but I find myself at ends arguing to save him time and money from the courts.