That's the nature of healthcare IT (what I do)!

This is assuming you have adequate head space of 7' which Im assuming you do. 

Have adequate cash reserves.Will this be a value add deal?

There are some who do even cheaper & don't charge full months rent as a leasing fee & things of that nature.........Lol good luck with those guys though.

I also do not stain my hard wood floors, but instead I put three coats of polyurethane on natural hard wood.

@Martha Daisley Putting the property in an LLC is a good idea but you still need adequate liability insurance.

@Tim Bradley It is better that you are going into the BRRRR strategy with some perspective and experience with having invested before because your expectations will naturally be more realistic.

There is economic development coming through the area so I feel good about natural appreciation.

ThanksGaren The term like-kind refers to the nature or character of the property and not to its grade or quality. 

It’s okay to go in  at 60% ask or ARV  to get your feet wet, once you intentionally lose a few that number will naturally creep to 70-80% and maybe you find the perfect property and are willing to go in at or above ask.