If it's in a great location and likely to get snagged up quick maybe you can offer them to start the lease a month sooner and if not then keep looking for another tenant.

Location is in San Fernando Valley.

You would be better served to collect quotes from a handful of foundation specialists then choose one.As for costs, it will be dependant on many factors: type of foundation; type of soil/rock; depth of underpinning / ease of soil removal; and your location.

If you are looking strictly cash flow and have a solid team set up in that location then it could be a great strategy!

Thanks for the responses, before I  respond, I cant seem to locate my thread via the main menu of the Forum I have to go to the MY DISCUSSIONS section and I never saw it in the new posts section.

For the thermostat there is a temperature minimum in winter in most locations.

So if we can rent the other side out for around the same once we rehab it, we will fit the 1% rule and is in a great location for the long term.   

Basically, it's as if she and you are both starting at the beginning of your RE journeys, to find out whether she/you would be better off investing for appreciation (eg. buying property that should be ALREADY worth more than you pay for it, AND it's due to keep going up in value too, but, won't generate much net cash flow), or, buying for cash flow (in areas where appreciation has not happened historically, but are still golden egg locations for double digit net rent returns). 

I locate off market property but do not typically list it.

Now I am really hesitant to close this deal...Deal summaryLocation: Norcross, GAPurchase Price: $218kUsing conventional loan - 4.375%, 20% downpaymentmarket rent $1600-1650brand new (less than 4 years old) townhome, end unit, in a very favorable locationThis community/area has gone up $60k in the last 3 years and I thought there was some room for more growth given the market condition + desirable location. 15 year old houses are trading around the same price in the area, which gave me a little more confidence that this property could gain value in the next few years.