I am new to Bigger Pockets and rehabbing, I am located in Orange County NY about an hour North of NYC.

This has been their arrangement for almost twenty years (the tenant has lived in three of the landlord's properties, all located in California) and from inception there was never a written agreement for this arrangement.Now the landlord wants to have them sign a lease and write them checks for the work that is being performed, which apparently is to be cashed and returned right back to the landlord as the rent payment.

All are centrally located. 

We were concerned with this all along and the reason we switched to this lender was because he said he could work around it because she became a teacher through a program which offers her a minimum salary and that he would use that.The seller didn’t want to give us an extension or do a lease to own at first, but his lawyer talked him into a 60 day extension.

Also depends on where your property is located.

I would not rebuild unless it was a superhot area location-wise.

Going to newer homes in better locations and letting someone else deal with an aging asset is a much better plan, especially as you reset your tax depreciation and learn to do cost segregation!

The key will be using your marketing to locate deals that not everybody has access to.

Its located in an Ok neighborhood. 

This is my sole opinions, and it has nothing to do with J's operation.1) The location of the building/house has to be right IMO.