@Paola Astrid, if so be the case, refi to a conventional investment loan. 

Now, you're going to pay for that in much higher rates that you'll get in FHA or even Conventional loans, but if you're willing to bite the bullet on that to get started, then it's a great tool to use.

I will soon listen to that episode and hope to hear what you have going on, Felipe!

There is currently no requirement for the landlord to test for lead or pay to replace the pipes.

in the heart of the delta.. what do you want to sell it for ? 

:)The only beef I have with your post is that you are already assuming their is going to be beef between tenants and you are going to have to play peace maker.

If everything goes right I will be able to refinance and will have created 25% equity, or I may end up having to bring $10-20k to the refinance to get the 75% LTV depending on the appraisal, but even if that's the case it's still a great deal.

What are you expecting to rent it for?

Plan to do more?

@Trenton MillerHey Trenton,Land valuation is the most important skill you will need to develop, and honestly, the only way to be better at it and not just take someone else's word for it is to truly understand zoning.