The first flips were during a super hot market, so 1 was an easy rehab and the other I purchased at a discount for cash simply resold 45 days later for profit.

Hi, I am looking at doing a rehab and addition on an older home. 

Hi, I am looking at doing a rehab and addition on an older home.

I would make sure your insurance quote includes additional fire coverage.

An additional benefit of purchasing an older building is providing an option for converting the building to a Single Family.  

In addition, you can always look to Lease Option a property FROM the owner, and Lease Option the same property to your Tenant Buyer.

Was really only looking for additional information that some of these senior landlords may have gathered throughout their years. 

I would guess that the number of properties that are owned free and clear that don't need the money immediately may even shrink that pool even further.What if your seller had the ability to sell his/her note for cash at a discount after approx 6 months? 

In addition to the podcast, blogs, and forums, I found the BP books to be super helpful and easy to digest: http://biggerpockets.com/books and there's also a free intro video course that has a lot of the same material as the Book on Rental Property Investing: https://www.biggerpockets.com/courses/a-beginners-introduction-to-real-estate-investing

He estimates to spend an additional $58k over the next 10 years for maintenance and capital improvements.