We are looking to purchase our next investment property to buy and hold as a rental.

Purchase price: $199,000 Cash invested: $40,000 Long term rental What made you interested in investing in this type of deal?

I would also recommend doing a balloon payment sometime from 2-5 years of executing the deal so you don't have the service the loan for a long time.

The specific location ( 4' * 6' long) is underneath a guest bedroom window in the front of the house. 

We are looking into purchasing cash and do some light updating but the county records shows as a 2/1 but the house is actually a 4/2.

This can help allocate your resources to align with your long-term strategic plan.Better Budgeting and Management of Finances: Now that you have more cash flow upfront, your cash flow is more predictable.

We knew they were vacating so, we are really only 1 week vacancy. 

Evan,Obviously depends on costs but this will be a rental that I plan on holding long term.

Our goal is to convert it back to a 3-4 unit property for long-term and short-term rentals.As I currently reside in Washington DC, I'm unfamiliar with the local permit processes and requirements.

Now they are behind in electricity bills and I let it go since I took so long to fix the roof and feel bad about it.