Its a 4 bedroom townhouse with three rooms upstairs and a room in the basement.

(At this point hands go up around the room.)

We have 7 duplexes near Grand Rapids, we pay between $450-$650 per year!

Well I am not really interested in doing a fix and flip becuase there isn't a lot of room for error, plus just getting into investing I feel isn't the place to start.

I was thinking of making the 1st floor conference room available on an appointment basis to the (probable) 7 separate tenants on the top floor, that way they could meet with an elderly client on the 1st floor.

Looking at other comps and the pictures with those comps off the MLS, at the very least you want updated vanities in the bathroom, new counter tops, ceramic tile, nicer faucets, ceiling fans and something besides carpet in the living and dining room and den.As for the area, this is certainly "A" class.  

I have other apartment rented and a hotel room in construction.I need to learn all about this market and I don’t have a lot of money but, I would like to be active as soon as possible.

They were fixing it up as they could, room by room. 

Depending on the rooms, I'd fix it up decent without going over the top and run the numbers rented by the room.  

However, little did I know that my brother had made the weekly payment for our motel room and had not informed me, so the check bounced.