They are most likely not cash flowing, probably it is only equity pay down they are getting and appreciation as added bonus.

Any help or recommendations would be greatly appreciated and if you would like to be added to my buyers list please let me know.

This building doesn't have a kitchen, but one could be added fairly easily. 

I literally started with free ads on Craigslist.

He's absolutely right, you don't need to do the extra work of writing out a contract.

I try to fix HVAC problems in 24 - 48 hours so they can have a comfortable home at minimal extra cost to me.

I was considering paying the extra money to have a full appraisal done bc I know it would be worth the expense.

Added, how do you assess the property as far as how much you might need to invest to renovate/fix?

Do you only accept tenants if you “think” they can pay their bills and just as an extra safety precaution you get a co-signer?

I was told the capital gain tax doesn't avoid us from actually adding the profit back to our income as other income, so in effect you are taxed twice 1. capital gain 2. profit from sale added to our regualr income..what am i missing here?