Have you checked out Facebook groups for potential leads?

They are getting what they really want, and you are crafting the deal to where it will still make sense for you.One potential issue is if what is most important to them is most important to you as well.

Knowing it means understanding what the potential (real) cash flow will be, based on what you are looking to pay. 

If your market supports medium term rental demand and you're having issues getting booked, put yourself in a potential guests shoes when reviewing your listing. 

You want to be protected from all losses and the rent check not coming for a year while the unit is being rebuilt is one of those potential losses. 

Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.IDK, the significant dip into your savings for a project with many unknowns could strain your safety net.

A cost segregation study will assess that value of the components of the property you purchase.

@Brett RiemensniderIt's great that you're taking the time to thoroughly analyze your potential investment and ensuring you're making informed decisions.

If I potentially need to move away to be on site, is there going to be any problems regarding the FHA loan?

Your potential return is unlimited, but for this you get to deal with toilets, tenants, and termites.