It's in a rural town so I'm also worried that demand might not be as high as in more densely populated areas.I'm planning to call local banks this week to understand financing options and contact some contractors who might be interested in building additional units. 

I recommend that you contact a lawyer to setup this process for you.  

Then I started to contact brokers that bought and sold Apartments complexes and proceeded to 1031 exchange all my Condos for Apartment complexes and told my story on BP Podcast 238 in 2017.  

In the meantime I would love to have some helpful information or ideas to share with the buyers when we meet and ideally an agreement/contract we could fill out together once new terms are agreed to and then share that with the attorney so he could draft up the formal instrument for recording.If you have experience with this type of scenario, I’d love to hear any recommendations you have or any helpful resources you could point me to for the appropriate paperwork. you can do a loan modification, which an attorney can draft for you or the loan servicer you are using can also draft it for you and you can give them the terms to review the documents.Also make sure to check with the requirements as in some states the loan modification will also need to be recorded.Happy to chat offline about more info on how to do a loan mod, we do them all the time (it does not matter whether its seller financed or an agency loan)

2-4k4) new roof, new HVAC, new water heater, ac panel, replacing plumbing to PVCwater heater all set 1.5k-2kplumbing 2-8kroof from 10k-25k5) framing (creating new bedrooms or baths)8-15kthanks to everyone that are willing to share this info according to their experience. 

I haven’t seen any longer term studies done, only promotional info when the RE market was generally rising.  

@Samuel Kim - please contact @Chris K. privately and allow him to show you how you can benefit from this wonderful strategy that he implemented for his many health professional clients.

For contact management like that its awesome to search for specific types of people and locations or just data like "how long does it take to foreclose in texas".We have some other use cases as well that we use to track not only ours but competitors results online and learning what does and does not work for different aspects of the business.

Just read the beginners guide - what a great resource - full of great info for someone just starting. 

. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.