No meat left on the bone

Like it should be 4% rather than 0.04% interest for the refinance 5 - The above^ may kill the deal if recalculated and you're hoping to hold, but also consider if 30k is enough meat on the bone for you if you plan to flip, as you may be paying some closing costs too (depending on your market) when you sell, as well as unexpected costs

they've been good tenants, have owned a home before so know what they're doing (probably more than me at this stage) and if this makes them happier/want to stay longer....all the better.  

Sorry, if there was no good meat inside of my post. 

The houses do not have enough meat on the bone to flip but lots of equity for a live in.

That is not a bad thing, but you will need to work harder to find something with a little meat on the bone.Another option is to work through a reputable wholesaler and find something "lightly distressed"....more of a cosmetic rehab. 

Now-- onto the meat and potatoes!

I am not telling you to cut your agent out of the deal, but on sub-$50K deals there isn't much meat on the bone to pay two agents.

A handwritten letter saying: "I'm interested in buying your house, please call or text me at xxx-xxxx" will generate lots of calls.

Option 1: invest in multi family housing Pro- semi reliable income- cuts cost on my living expenditures -recession proof (can be argued)Cons- high cost start (for me at least)- first time managingOption 2: Buy land and try to negotiate a development deal Pro-huge reward -can be fast- after deal is done right, I'm hands offCon-very risky especially for intro-no expertise in this field -finding a great deal in hardOption 3: wholesalePro-great return-can be fast-not long term Con-hard to find good deals especially with a full time job -can be a nightmare project-no expertise Please correct me if I have messed up with any of my pros/cons.