About four years ago I started another Real Estate Company and my partner and I  acquired 13 properties overall including two three-unit properties and one four-unit property.

Hi Ryan,May I ask why you are limiting yourself to those specific areas if say you could acquire a property that fit's within that budget in an A-class area somewhere else that could give double the returns you are looking at under the same parameters?

Most of the time when a house gets gutted to the skeleton, it's because there was asbestos and it had to be remediated.

Looking forward to seeing your posts over the next few years, as you acquire properties!

Along the way of acquiring those, I sometimes came across a deal that wasn't for me, so would wholesale it out to a friend or another investor.

To address the current situation it would be worth sending the tenant a lease violation letter with a remediation plan (i.e. pay the additional $50.00 or cut the grass).

We recommend it highly.We use DealCheck plus an excel spreadsheet to analyze potential properties to acquire. 

I recently acquired a property under a contract under the impression that it was 1500 sq. ft.

I posted a really involved post about my plans to remediate the problem, but I had a bright idea last night that may work. 

The 2nd property I acquired in WPB was a STR, and the cash flow for this was about 2-3x more depending on the month, if you get a good PM this will offset the difference in time you would spend managing a LTR compared to a STR.