If you furnish your property and rent it monthly to traveling nurses, people needing temporary housing, WFH people, etc. you can greatly increase your rent revenue.

 HI ALL,A FRIEND OF MINE HAS  A PROPERTY THAT IS A BILEVEL THAT THE OWNER WANTS TO TO GIVE ME THE PROPERTY SUBJECT TO THE LOAN ( I'LLTAKE IT OVER), FOR 272K , PAYMENT IS 2017.94 PITI (RENTS IN THE AREA ARE AROUND 1500 -2000) , IT'S WORTH ABOUT 400K , BUT NEEDS ABOUT 100K OR MORE IN WORK TO IT.THE OWNERS EX WIFE HAD TO GO INTO A NURSING HOME AND THE HOUSE IS LATE ON TWO PAYMENTS,(4,035),WHAT IS MY BEST COURSE OF ACTION, SUBJECT TO OR A LEASE OPTION OR SHORT SALE? 

HI ALL,A FRIEND OF MINE HAS A PROPERTY THAT IS A BILEVEL THAT THE OWNER WANTS TO TO GIVE ME THE PROPERTY SUBJECT TO THE LOAN ( I'LLTAKE IT OVER), FOR 272K , PAYMENT IS 2017.94 PITI (RENTS IN THE AREA ARE AROUND 1500 -2000) , IT'S WORTH ABOUT 400K , BUT NEEDS ABOUT 100K OR MORE IN WORK TO IT.THE OWNERS EX WIFE HAD TO GO INTO A NURSING HOME AND THE HOUSE IS LATE ON TWO PAYMENTS,(4,035),WHAT IS MY BEST COURSE OF ACTION, SUBJECT TO OR A LEASE OPTION OR SHORT SALE?

There are some areas around the metro that allow it and if you know your schedule ahead of time, you could probably time it to where you could allow mid-term rentals (corporate rental and/or traveling nurse). 

My strategy is mid-term rental, targeting traveling nurses, and other traveling professionals looking for longer than 30 day accommodations.  

There are lots of house/cottages in the Springs as well, you could live in one unit, rent out the other to room by room, travel nurses (furnished 1-3 month rentals that aren't considered short-term) or AirBNB (check out if the property can be used for short-term before buying). 

The smaller unit i was going to furnish for travel nurses since I anticipate the smaller unit would have a high turnover rate anyway if it was a LTR.

Probate attorney I used for my mother is calling me at 3pm. 😬 Homeowner wasn't cooperative but now is finally fully on board.  

My mother has her own practice but doesn't like handling real estate returns because of the complexity.

If your not savvy on the construction process or know what poses great issue it would be better to purchase something small that can cash flow to traveling nurses or military until you can network and gain education.