There will be instant equity in the home and it's in nice condition however, it's a little dated. 

Currently only 3 units rented for 1400 total and I am not sure of their condition. 

Second issue I'm working to improve on is just finding a deal, continue to learn and try to add more lead generation beyond just the MLS, so one day finding a deal shouldn't be an issue.What I do currently have to offer is my expertise about home condition and potential issues.

Exteriors of the home are in average condition.

they said its in excellent condition

Mine says the tenant is responsible for "ordinary" pest control or anything caused by their living conditions.

@Ashish AcharyaGive me a shout post 4/15.Right now I generally get on BP in-between clients to de-stress a little.Not a good time to get into a debate and dive into code sections.Perhaps my most recent example was too hasty reviewing the regs right now...The "-3" reg defines structural components by reference to Treas Reg Sec 1.48-1.The term “structural components” includes such parts of a building as walls, partitions, floors, and ceilings, as well as any permanent coverings therefor such as paneling or tiling; windows and doors; all components (whether in, on, or adjacent to the building) of a central air conditioning or heating system, including motors, compressors, pipes and ducts; plumbing and plumbing fixtures, such as sinks and bathtubs; electric wiring and lighting fixtures; chimneys; stairs, escalators, and elevators, including all components thereof; sprinkler systems; fire escapes; and other components relating to the operation or maintenance of a building.We know that a building and building structures are a single unit of property.  

Good thing you have ample documentation of the unit condition from start to finish while this tenant lived there.

If you can not split the lot it I will buy a better condition home w/o that much renovation which can cause vacancy for months.Returns seem to be reasonable.

A Holidome is a hotel which was built originally as a Holiday Inn, but no longer branded because of poor condition.