Ask an investor to tell you their buy & hold or flip economic model and they start stuttering.

You never know how much damage the termites have done until you start tearing into walls/floors....can get expensive fast.Location is the only thing that cannot be fixed, and you said this property was in a "really good location". 

I started using it as a STR 4 years or so ago.

We dealt with rentals, flips, commercial, small apartment complex developments (~10 apartments), sport facilities, and a few government contracts.We are actually very open to different opportunities and investment approaches, but our plan was to start "smaller" with some cash deals in NJ (maybe somewhere in the area between Staten Island and Philadelphia, but staying in NJ), by flipping a few smaller properties and starting to generate some income.

Once we hit junior year and started leaving the dorms, we had established ourselves well enough in our college town that we weren't going home for the whole summer anyways.

You may want to try hiring a local handyman that you can email jobs to do and speak with 1-2 times weekly, meet 1-2 times monthly.Most will put on a good show for a few months then either get lazy and cut corners or start raising prices.

The data should start showing soon.

Hi, my name is Shad Lorenz and I am a 12 year Army Veteran, 10 year small business owner with a Bachelor’s degree in photography looking to start my journey in Real Estate Investing with my wife Beth Lorenz. 

Naturally, the lowest mortgage rate was my goal, so i started applying for mortgages. 

I am just starting out so any help will be greatly appreciated!