The 2nd PML would only be up to 65-70% LTV.

@Harsh Poshti  You do need to check with the local zoning office. 

I look forward to having this property in my portfolio for years to come.

Different companies have different fees and - more importantly - not all managers are created equal.Remember: cheaper doesn't mean you'll make more money.Start by going to www.narpm.org to search their directory of managers.

One key lesson is to always prioritize a thorough inspection—and go beyond the basics.

Negotiating with the seller was straightforward, leveraging the property's condition to secure a $50,000 purchase price.

Are there any particular things to check when evaluating such a deal?

There's a ton to learn and no better place to do it.

Thanks Tisha, I really hate to see that.

I had one customer who bought here thinking they had to go to the office every day and then never went to the office.