Securing these leases can dramatically improve the value of your property for decades if done right!

The whole inventory issue is not a result of any 1 or 2 issues, it's a culmination of the "Perfect Storm" of factors all cooking together to not only make an inventory shortage, but an enduring inventory shortage that currently we are looking at about a decade out to achieve parity (supply meeting demand) and that hinges on some "if" factors itself, namely skilled labor supply improving greatly. 

If you don't have that you probably don't have title and any improvements you make may be as a volunteer and belong to the true owner whoever that is. 

Best to do a Purchase plus improvement mortgage on your next home.  

Scope Of Work included:Replace all water service linesSub metered electricReplaced all windowsRepaired roofRepaired rotten wood and sheetrockFull paint inside and outsideNew HVAC systemsFull rehab of each unit, new cabinets, granite tops, appliances, tubs and tiled surrounds, flooring, texture etcAdded small laundry room in rear of building with 2 sets of washer/driers Improved exterior lightingTrimmed one tree and removed 2 large treesNew Landscape sod, small trees and shrubs What made you interested in investing in this type of deal?

I always find some area that I can improve in each time I make a deal, but being honest with myself about the potential costs and the chance of them happening (worst case) has probably been the best lessons.

@Tchaka Owen Thanks for the info I will update the numbers I will end up managing it myself  I really am not a fan of Class C property but to get started with a "1st" rental property  I did not want to go get something that is too big to start  Yes there are improvements that need to be made and  it has been on the market for 120 days So after doing some repair calculations I am thinking of going in with a 62k offer.

Can anyone recommend a book or other resources that I can use to educate myself on systems and processes to improve the rehab process, specifically related to budget? 

Do you have the money to do improvements?

If you feel the need to do some stuff to the home, make minor improvements that add to the safe or functional list. ie, if the kitchen faucet works, leave it be.