I also don't trust the lower end condo stock down here, ($450,00 and under) as I've worked for an architect involved in rehabilitating these under maintained properties and most seem as though they are old stick built buildings about to fall apart.

The neighborhood is rough right now due to some vacancies, a couple of condemned buildings, and a private road “maintained” by the owners of the neighborhoodAdding value to this deal won’t come from improving the property, but from working with property owners in the development to either fix up the houses and the roads or buy the rundown houses What was the outcome?

This only works if that neighborhood has a strong history of maintaining its appreciation.

People who refuse to make the capital investment necessary to maintain a decent environment need to find other ways to make money. 

However, you will have maintain residency in the home for the life of the loan.

@Carrie Torrey I also recommend getting someone to maintain your books and can communicate efficiently with your CPA.

They want me to be in charge of maintaining the parking lot, the structure, and exterior.

He ultimately wants to maintain & manage our rental (and any future rentals) but will initially have large gaps in his schedule to fill with paying work once we arrive.

Glad to see you both were able to maintain your relationship and learned from this deal.

Goals for the week:Our main focus right now is on generating leads, so we are concentrating on marketing, marketing, marketing.