My first tenant was through Section 8, and each year I was spending money to fix holes in the walls and abuse to the appliances so that the unit could pass the annual inspection.

I already spend part of my time here but later this quarter I will become a 'full-time' resident of GA.

Why would I spend $25K 3 years earlier than might be required?

You will have a bit higher costs with the 2 properties vs. 1, but this seems like a no brainer to me.Assuming you do get the appreciation in one and none in the other two, you're looking at about $1350 in appreciation each year that can only be utilized if you refinance (spend money for a new loan) or sell.

I feel like I'm jumping through hoops of fire to find out if this list of properties that I received from the city is really worth spending my marketing dollars towards.

As an example, why spend extra money on custom lighting when a lighter color of paint would have the same effect?

You can probably spend 30 minutes talking to your local city licensing center on what licensing you need.

My gut feeling is that you should walk away and not look back and spend more time establishing investment benchmarks that every deal has to meet or exceed in order to buy it.

I'd spend a few minutes consulting with an attorney since the horse has already left the gate.

I could spend 3-5k on each of the upper 4, the 2 lower units are not even close to ready, flooring cabinets ect.Owner drops other shoe: The commercial lender has decided to "Not renew smaller property loans" (As per owner)He has received a "Foreclosure notice" yesterday, He also mentioned the bank did an "Environmental exam" a few days ago.He owes $258k on the property, an educated guess tells Me it will appraise between 175k-225k depending on who wants the appraisal.I know most would run away and I may do that.