We then plan to move out in a year and Airbnb all three, which for the area should be very lucrative.In the long run, we could remodel and force appreciation, fingers crossed and sell.

However, I don't want to end up homeless, or worse, land myself in jail because I didn't cross a t or dot an i.

Thanks to all for the great input, advice, and stories shared.I'm at a bit of a cross-roads.

Assuming you want use the equity to buy another property ask around at small local banks to see if they will cross-collateralize.

As reference I rent a duplex in midtown crossing (1900's build nice, but not updated) for between $900-$1000 a month for a two bedroom  (1500+ sq ft) 1 bath that includes a shared yard and off street parking.

I am not an expert in this specific neighborhood, true comps are tough to come by, and I'm still very green as far as estimating repair costs.  

I was talking to a guy tonight and he said that his investors overseas have money but they want a green card and an easier way to get one (rather than the traditional way of applying and waiting) is to invest in a business.

Go Green!

@Jonathan Greene- If we do start finding our own deals (which is part of our plan), wouldn't we need an agent's help to write up a contract and settle?

Fingers crossed that one of these meetings tonight will be fruitful.As for the property itself, we have been out there several times over the last few months to clear out debris, trim trees, and cut grass.