The market rent I posted was as-in condition, not pro forma.After expenses I will be paying market rent for a unit I am occupying plus gaining yearly equity equal in an “up and coming” community. 

"Fully rehabbed" properties that I would be embarrassed to call turnkey in the condition at which they are being sold. 

Here are options including install- 1/ used good condition 3 year old Air handler never opened, 8 year old used compressor, wireless thermostat - $2400 2/ $2700 for 3 year old air handler never opened, 1 year old used compressor, wireless thermostat 3/ 3 year old air handler & wireless thermostat - $17004/ we supply units - he installs them for 1300 5/ everything brand new with warranty and install for $4200Thank you.

Is fha rejecting it due to condition, the 90 day flip rule or your loan qualifications?

Not sure how old the home is but you definitely want to check out the roof, electrical, water heater, heating and air conditioning and plumbing at the very least.

Although I agree great cash flow is great, having someone else pay off your investment (thus "buying" you equity), and having depreciation to counter your income (conditions apply, so do your homework!)

Either way, as long as you manage the building make the repairs, do your walkthroughs it shouldn't matter in my opinion.I am responsive to my tenants they have told me about previous places they have lived and the conditions that they lived in.

We now have a reputation in our small town for closing quickly on homes in any condition. 

FHA loans will not allow you to do much "fixing up" as the property has to be in excellent condition to pass the inspection.

Hello , I have the option to purchase a fixer upper and i was wondering should I get an appraisal on the property in its current condition......