Overall the building is in great shape, with the only major maintenance issue that I can see is that the roof looks at least half way through its life.It's listed for $49,500 but has been on the market over a year likely due to comps.

When I went to resale a year or two or three down the road, it's likely I'd need to do another major rehab, which is likely to cost more than the cash flow I've achieved in that time.

During construction they encountered a half a million dollar hickup because the earthwork contractor encountered major difficulties.

I have a busy, demanding job as a paralegal w/a major corporation and a very long commute.

Attorney fees and appraisal fees usually outpace tax savings unless several years of taxes on a major assessment are at stake.

Michael Woodward- I appreciate your insight and congrats on making progress towards delegating a majority of your business.

The other major issue with the property appears to be the foundation.

I hated doing the engineering and would have preferred being RE, but there were some MAJOR advantages to doing the engineering while I did it:- Had a steady paycheck while I 'figured out' real estate and where I fit in with it, and benefits of course- The company was contributing to my 401K while I was there which ended up being free money I used later to buy real estate- It gave me time to really figure out my niche in real estate.

I focused the majority of my education on electrical, plumbing and HVAC.

When you get to mid-rise or high-rise buildings you will definitely be getting specialty inspections of all the major systems in addition to the engineering inspection report.Good hunting-