Non-qualified use comes into play when the property in question was first a rental before converting it into a personal residence.

.#2 Reason: House Is in too bad of a shape to list#3 Reason: Hastle Free#4 Reason: Agents smell like dead monkey.

I have been hearing a lot of talk that Fix and Flip is dead with some companies focusing on other "Hot" areas of lending.

More generally, how much does the building play into the appreciation of the condo?

Anything in a coastal market is more of an appreciation plan than a cash flow play.

There are also deadly diseases that horses can spread to each other.

While I'd never play around with safety issues, people who rent well below market have to accept well below average conditions. 

@Jacob Maes I know that some investors cash flow fine with condos in certain areas but it isn't something I'd be comfortable with because of all of the external factors that could be at play.

This is where being convincing and persuasive comes into play.

Work hard, play hard!!