Spend the money to get things up to date such as central AC versus window shakers.

If getting a 4% rate versus a 3% rate on a condo makes or breaks the deal then you have bigger issues with the investment to begin with. 

He performs light, cosmetic renovations versus extensive renovations and then holds them long term. 

You can also look at the Fannie Mae Homestyle renovation loan which offer something very similar but has a lower PMI versus MIP/UFMIP in comparison to FHA. 

Have you double checked with a cpa...i have heard one year and one day count as two when it comes to short term versus long term.

There are advantages to owning in your personal name versus an LLC.

From there, I estimate that I'll need to put in work on the exterior to repaint.After this, I know leases in the area are going for about $14-15/SF (yearly) versus the $11/SF that's currently rented.

@Dan Maciejewski$20,000 or $20,500 and the peace of mind that you will get the deal Versus$18,500 and the potential risk of losing the deal.That’s easy math where I come from

If you have pending big items like that you'll need to budget enough expense to replace them when you expect they'll need replacing versus amortizing that cost along a full expected lifespan.

Inventories are at the lowest for any month on record back to 1999 and are down 22.0% versus a year ago.