I tend to shy away from homes over ~20 years old to buy and hold for long term renting.

We purchased this buy and hold historic duplex which faces William Land Park in Sacramento.

Long term hold.

@Nathan Gesner Yes, I'm fairly confident if we were to hold long term, we'll do just fine. 

Be patient, take action when you're ready, and don't let fear hold you back—start small, learn as you go, and build momentum over time.Good luck!

Again, I am sorry that your expecations were not met as I will always try to be honest, straightforward and respectful to all of our guests".It is a shame that one reviewer can hold so much sway, but sometimes the host's response (if done well) to a negative review can actually draw me to a property, rather than dissuade me from booking.

Ideally, I would like to use the buy and hold strategy, with a 50k budget to get started.  

I would be very concerned about someone holding the 50k deposit for finish work at the end..

Step 2- close and start rehab-- would need to pay holding cost during rehab?

So the first seller agrees to direct title to holds the funds and when you close on that purchase you record a new note for the first seller on the second home.