It can also subject you to being considered in the same light as a mortgagee, which would carry with it a host of  legal requirements that you need to adhere to.  

For a first timer I would recommend you learn the ropes by sticking to a light rehab say under 30K, or however much money you are able to lose, whichever is less.  

In addition, it’s easy not to remember exactly where a roof vent or sky light is underneath the snow and ice.

Can someone shed some light on what works and doesn't here? 

This is why the 1031 has a place in the right transitional plan.I like your foresight and thinking now about how to strategically place your assets so they can provide the benefits listed above while not sapping your energy in retirement is key. 

Russell Brazil I'm new here with two maybe three posts, but I can assure you I'm no stranger to these forums or my personal favorite the weekly podcast.I have to say I really appreciate the time, energy and effort you and the other members like yourself commit to answering people's questions and provide them with feedback on various topics surrounding REIIf I had to look back over the last 4 months I have seen a post or a reply from you almost every time I have opened the app.

I would do "light staging" which gives people an idea of space segregation, allow them to picture their furniture and essentially mentally move into the house before putting in an offer yet.

Inquire.If it needs light rehab we've found tenants actually love the idea they'll be moving into a unit with fresh floors, paint, etc.

Brian Dalton those are a lot of great points, but i do want to focus on commercial multi family apartments that generate that residual income. starting off small at first then build my portfolio to bigger deals. but thats kind if where my head is. if any light to share or opinions on this please feel free to let ne know. thank you for your time

I had something like this years ago - it was in Commerce City - It was house on light industrial zoning, there were houses up and down the block with the same zoning.