@William Kulow the first time you walk in an abandoned unit where they left the fish tank, you will never allow fish again.

You need to do an independent review of the sold comps, DOM, and the finishes you need inside to get the ARV you see.3) When projects pass the paper test and pass the number tests, then you need a GC and an Agent or some kind of designer, who have already looked at all the comps, walk the space and put together a budget that works and that will get you the number.4) Now you need a good relationship with a money source. 

@Joel Owens so can we walk through a NNN scenario?

Ask the seller for repairs or walk away.

Strictly speaking from a financial point of view multi family's almost always make more sense unless your walking into some equity in a single family.

It’s all about getting that freedom to walk away from the 9-5 when you’re ready.

They will be able to walk you through / help with the process of getting your ducks in a row.

Once that has been done I'd like to purchase a property walking distance from myself so I can keep an eye on the property and because I don't have a car.

When deciding between them, looks for flexible memberships, no high-volume minimum, and customer service to help walk you through the process.

It's great to ask these questions in the forums to get a feel for things but it's not a substitute for getting "official" advice from an REI-savvy tax pro that you have hired.Regarding what to deduct versus what to capitalize (and depreciate over time), your tax pro can walk you through that for each line item.