Could happen but very rare. #4 See everything you plan to buy in person. 

Hopefully, you find it helpful and qualifies us to assist you with your goals:)---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

Certain cap items is fixed or pretty close to fixed whether you are buying a $60K house vs. a $500K house in the same market. 

You will likely have your license and be able to buy/sell.

Investment Info:Single-family residence buy & hold investment.

I believe he shouldn't have let you buy this building unless you fully knw what you are getting yourself into.

Buying a new one, changing tactics to LTRs, etc etc.

This poses the opportunity to acquire a distressed property today, spend the next 3 years to fully stabilize the property, capitalizing on the coming spike in rent growth, falling vacancy, falling interest rates, and compressing cap rates for multifamily real estate in the D.C. metro, as well as the option to hold the property as a safe and lucrative long term investment given the macro factors coming to Washington D.C. and the fundamentals of the multifamily sector.Cap Rates, Interest Rates, and the Best Sellers to Target to Get Deals DoneMarket Cap Rate, DC Metro, (1/7/2025) Period Market Cap Rate 2030 5.1% 2029 5.1% 2028 5.2% 2027 5.3% 2026 5.4% 2025 EST 5.6% 2025 YTD 5.7% 2024 5.7% 2023 5.6% 2022 4.9% 2021 4.4% 2020 4.8% 2019 5.0% 2018 5.1% 2017 5.1% 2016 5.1% 2015 5.0% 2014 5.1% 2013 5.3% 2012 5.3% 2011 5.3% 2010 5.5% 2009 6.2% 2008 6.2% 2007 5.5% 2006 5.4% 2005 5.6% 2004 6.1% 2003 6.7% 2002 7.3% 2001 7.9% 2000 8.4% Cap RatesIn the next few months, cap rates on the right deals should be rising, making it an opportune time to buy.

Investment Info:Single-family residence buy & hold investment.