Hi, I am a 24 y/o from KY and have been thinking about getting into real estate.

He y Buddy,Yeah looking like I need a cash reserve in order to buy and hold.

Also, I was told by the y realtor that since we are out of state we need a property manager.

Because of these upgrades, we will be increasing to market rent of Y.

While the location is in a high-potential area, these old, tiny unit buildings are potentially tough - there's only so many desirable tenants who want to live in a 400sf studio in a 100+ y/o building and pay more than $1k/m in rent for it.Not many people want to own and operate as asset like this, which is probably why it's (A) on Loopnet and (B) has a lease option offered to entice buyers. 

@Kelly ConradYour first question for the city planning folks is:  "Is there any chance that a property I own in Street X in Y neighbourhood could be rezoned to allow for three units?"  

@Jason Y.

The owner is willing to do owner finance on the deal with the below terms.Asking Price: $280,000Down payment: $42,000 (15%)I/Y: 4.25%Amortized: 360 monthsWith the current numbers on the property this is how it would cash flow however market rents are around $650-675 on average so the rent could go up slightly but rather account for current rents.

Apparently, someone was running a scam off of craigslist with my last name printed as my first name and my first name printed as my last- I am now getting calls directly from places like Ohio, Kansas, etc. etc. asking if I would still be interested in selling m y property ?

I am also a scared-y cat about most things and an LLC makes me sleep better at night....