Having 2 years time frame you can work on the house in your spare time and still get it done (depending on upgrades).

. $30,000 in upgrades all completed in 8 months.FinancialsHere we go...we financed the property with 5% down FHA and paid approx. $10k towards upgrades with another $10k financed through a non-profit and got the solar system for free as part of a grant program.Current Rent: $1,900 per month - Cash Flow $500 per monthHome value: $275,000 ($82k in equity).ROUND #2!

The current plan is to get a HomeReady loan as first time homebuyers, upgrade to a nicer house in a nicer neighborhood without going overboard (going from current 140k house to 175k range)*, using our current residence which can rent for 1k-1.2k to pay off the mortgage on the new house, save then reinvest in another property.

It's likely a few will move and you can begin the upgrading effort.Good luck!

No deferred maintenance, but with some minor cosmetic upgrades (paint, hard wood, dishwasher installation) the unit would easily go for at least $195K or rent for $1500/mo.

It is not distressed but could use upgrading, I am not on the title but feel it would be best to buy the property myself vs selling to outside parties for future passive income.

Installed many upgrades during building process.

Every chance I get, I sell thats an upgrade.

Now, if you were to buy properties that appreciate, I have no qualm about selling that property and upgrading to a property with more units and a better ROI.Out-of state rentals are okay when you have a good management company, but it is fairly difficult to get a management company that is really good and there are hundreds of reasons they are not good.

Yeah I wasn't looking for a complete fixer upper my first time around, just planning to upgrade things here and there.