After our house is fixed up, I think it should be worth about 725K based on the comps, with no market changes.

It was a $300 fix.

HML fix & rent of $165,000 @ 15% over a year - Monthly payments are $2,062.50.

So the concept is live in it temporarily, then move out at first chance once I can get that unit fixed up and rented too.

Plus their minimum balance to not get fee-d is little high.Also US bank has now twice locked me out of my online for no reason whatsoever and one time they said the only way to fix it was to go to a branch.

If they catch you, they will drop you like a hot potato.You can rent to someone for a fixed term of 6+ months and then renew or extend on a month-to-month basis.

It is a shame, because over-all unit space is not the issue, just the layout/use of space but, no way am I going to start tearing down walls to "fix" it.

@Josh Wallace The depreciation schedule (usually called a Tax Asset Detail, Fixed Asset Schedule or Federal Asset Report) is just the document that shows your depreciation deductions.

If you are thinking about a "house hacking" loan on a 1 to 4 unit place  that only requires a 3.5% down payment but try to get on  3 or 4 unit place under the same roof, which is one of the parameters of the FHA loanIf you need any short term return, you might try a Fix and Flip type with wholesaling and /or a quick flip. 

Hi, I'm a new Pro member, and looking for a first opportunity. Here's a home in a 55+ community, bank-owned (as far as I can tell, no heirs could be found, so bank bought it). The house is cigarette tar-laden, so it n...