A nice 2/1 that I bought back in 2015...nice times...

He is a very nice giving person, easy to take advantage of, put other ways.

Right now the house is a 3 bed/1.5 bath but if we can create a 4th bedroom in the basement and turn the half bath into a full bath I think we could rent the house out to students for at least $2,000 a month and have a nice cash flowing property.

We may need to get creative.We’re going to need a good realtor :)Anyway, we have so many questions, too many for one post, so I’ll limit myself to two.

At that price you could do a nice house in a good school district with good tenants  Even if you have lower COC it may be worth it to avoid capital gains, but this just a calculation with your tax pro. 

I always get 1-yr hard money loans these days, even for a 2-week flip, because I've seen and experienced enough things going wrong, things out of your control.The nice thing about hard money, especially for newer investors, is that they will double-check your deal for you.  

LOL.. and those folks don't post on BP.. on BP its all blue sky rentals are the way to financial freedom quit your day job.. live the life you deserve etc etc.. well for some for sure.. for many NOPE.. they are like why did I do that.. and they exit no matter the loss.now this is more prevelant in the lower value asset markets.. not all markets are like this.But I look at when I started hard money lending in 01 for turn key and I started in Detroit.. the homes there appraised at that time for 120 to 140 each rented for what they rent for today 800 to 900 in those days the .05% rule was fine.. we loan 80k as a HML .. well those homes tanked as you probably know many went down to less than 10k in value.. thankfully the 200 plus I did there I got refinanced out of them all. but you know long term lender lost their lunch and so did most of the investors in those days.I am not prediciting another major meltdown.. but even  break even is not a good position to be in with rental properties in my humble opinion the risk/reward and hassle factor just weights on you.. but I know I am in the VAST minority in my thinking.So my thought is you really need to get these things paid for and keep them forever.. but life happens and I would say 80% of people that have that thought process going in never make it past about 7 or 8 years.

The ones I’ve seen are more like nice hotel rooms more than a condo but that’s a different story.

Still need to call them, but it would be nice if there was a way to figure it out without calling. 

It works out to be a nice win win for us.