Found this property through our local online foreclosure auction site.

They love the nostalgia of it and wouldn't consider replacing such an important and historical thing.There is no script that will lead you to success in this, but friendly and collaborative will help.

- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

As I've come to terms with this I have taken the last five months to regroup and really think about the future which brings me to my post and what I'd like to get the communities opinion on.I successfully negotiated and acquired one of my duplexes in 2017 that I nearly have paid off (note balance is $54k, property value $230k).

Another example of this is Newark, extremely strict laws making land lording a second job.When finding the right area to invest, towns with more lenient land lording laws and proximity to public transportation tend to be a receipt for success.  

Definitely online via property management software!

A national buyer would review the BPO and maybe do some brief online research, but would not typically not know, as in your example, about the sewage issues or extent of interior rehab needed.

I recommend doing your research and looking at properties online. 

I'm rooting for you, and for your project to have success!

If you’re in it for cash flow, you’ll likely find it difficult to find a deal that will pencil out.Besides, like @Jason Taken said, hundreds of thousands of new units have come online post-pandemic, so there’s a lot of new builds at the moment.