Start with BiggerPockets Ultimate Beginners Guide (free).

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

If you are renting then it can be semantics; a lot of older homes had no closets at all, only free standing wardrobes.

With a fideicomiso, the first $200k is tax-free when you sell.2.

If you have any more questions, feel free to DM me.

I would love to chat with someone who is a mortgage broker to understand your day to day workflows a little better.

It’s important to do your due diligence on the specific properties and local market conditions to ensure they meet your investment goals.If you'd like more information on how to finance these types of properties feel free to DM me.

Ive owned a 3 family in Fitchburg MA for 4 years that has done exceptionally well with it, living for free in one unit for a while and constantly upgrading the property over the years.

Gaining valuable insights into the local market.Always consider that Jackson County has a LOT of variability in KC proper and then uniques submarkets of LS, BS, Independence, Raytown, Grandview, etc all with their own local city governments, rules and regulations, each with their own uniques submarkets of their own...Happy to chat and share my knowledge and experience.2.

Feel free to reach out if you want to connect, I have some people I've JV'd with in the Texas triangle.