Don't use your new income to improve your lifestyle with new clothes, a car, renovating your own home, etc.

It’s not like they do Improvements to your property, with proper authorization.  

It has overall been a good experience as they were there for some years and have been pretty grateful with a new owner whom is looking to improve the home and has more modern ways of communication/rent with cozy.

Maintaining the portfolio you inherited (visiting these properties and learning why they've lost value and how you can improve them will teach you so much more than just reading a book.

It was affordable, in a great location, and small enough to improve/furnish on a budget.

Be it adjusting the purchase price, improving the ARV, changing the financing, etc.

- If I want to make any improvements / renovations to the property and have to get permits, could those trigger inspections then a tear down? 

This would cover money for down payments, closing costs, vacancies, and improvements.

@blaine Moore - I'm a big fan of it, bought it on a Black Friday sale and I've noticed a large improvement in my productivity in the last 2 months.

My cash offer of 124K was not acceptable to him, so I said, if you will give me an Option to purchase for 6 months at 150K and I can do any improvements I choose at my expense, I will get it sold and my profit will be the spread.