I have the opportunity to purchase the 2nd lien position on a non performing note.

Hi All, I recently came across an opportunity (like today) to purchase a SFH for $50,000 cash.

I have 3+ years as a handyman. I can paint, install sheetrock, trim, tile. I also some experience installing flooring, kitchen cabinets, and plumbing. I also deliver food so I am constantly seeing potential properties...

For example University City could be a great opportunity to AirBnB with all of the attractions and Wash U nearby but they only allow it if it’s your primary residence.

I never really considered the long term benefits of having tenants pay off your mortgage. when it came to REI, I always just thought about the opportunity for short term cash flow.

It would be great to stay in touch and perhaps there will be an opportunity to work on some deals together. 

In this way I will have more opportunity to rent it out to a family. 

However, this home is in Berkeley and I am concerned about destroying historical elements and potential added structural engineering costs that could make the house attractive to a buyer in future years, along with the opportunity cost of construction now versus getting rental income from the house in the next few months. 

We have 3 single family rental homes right now, and we recently got the opportunity to buy a storage facility completely seller financed.

That being said, you reiterate numbers that you can accurately portray and stress your worry as you do here in potentially losing the investment opportunity.