Couldn't live for FREE, but once i moved out, it would cashflow pretty well considering the current rises in MFH prices. pros: privacy, better (more easily appraised) rent rates, cons: getting into construction jobs i can't quite calculate as accurately, not having enough cash to cover it lots of these houses won't go FHA203k, because of how many offers mine would be competing with, and i'd really have to sweet talk a hardmoney lender to get some capital secured, because i look pretty awful on paper. 

Every market has a sweet spot, ask what yours is, It does not mean if yours is outside that range it won't rent, you simply may have to find a great deal that factoring in higher vacancy costs you still turn a profit.

@George Wines so as a general rule of thumb a non-sophisticated owner cannot hire a contractor and fix a property up and make more money then simply selling it as is.

@John Morgano, sounds like a sweet opportunity!

I keep it short, sweet and use bullet points. 

That is a sweet degree you got in real estate.

Sweet!

It may be an easy way to accumulate equity in your first house along with getting a sweet loan deal.

You must find the sweet spot that works for you as the owner.  

We get both.Also, its the entrance to skyline drive, the convergence of two rivers, nestled into Virginia Wine country, and historic battlefields.