Helped us pay off the mortgage, now we are paid to live here after paying all expenses like taxes, insurance, utilities,  internet,  etc👍 

Do you have title insurance on the assets?

I come from a data science background, so I'm accustomed to creating models to derive the incremental ROI of each variable.I hear some people saying "get the $10,000 hot tub", and I get that, especially if it's a "table stake" that your property needs just to be considered by guests.However, when thinking about less standard amenities, like putting greens, gaming rooms, billiard tables, pool toys, etc. what tools or methods do y'all use to evaluate if a given idea will deliver a positive ROI?

Keep educating yourself before you dive in so you can really set your standards and not get your hopes too high up.

During Covid  other loan types got modification deals, not so much with VA loans.Department of Veterans Affairs is going to review every file with one late payment and check the deed, check the fire insurance.

They came back and said it was greater than 50 years old so they wouldn’t insure it.

Discover the hidden (or misunderstood, rather) gem of using cash value from a whole life insurance policy!

Insurance has to be bought. 

I go pretty much by the bigger pockets formula, some of my main instant declines are:Gross less than 3x monthly rentevictions, feloniespoor rental historyDogs that my insurance does not coverOk, beyond that, things get gray for me…and I had a coach tell me this… “If you ever make an exception on one criterion, you must continue to make that exception from now on.   

Before going into this, though I would be very conservative in your analysis of cost to renovate and what you think market rent (along with increases in taxes and insurance) would be so that once you are ready to refi into a longer term loan, your DSCR is rock solid and so is your cash.