Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Those situations go bad more often than not, costing you money and the friendship.

If I were to guess, I would think that the new administration will bring positive change to the housing sector by removing regulations that impede builders, and affect building material costs. 

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I predict that the substantial home price cost savings and greater control they enable the buyer to have will make them grow in popularity.

Are you set up with a lender at this point?

If you have a seller-financed deal, I can help you line up a DSCR loan and set up a second position behind it so you don’t have to come out of pocket much.

However, this has to be the primary residence of everyone on title in order to qualify and even if that were all true, we're still only up to $1M that way.I agree with the other commenters, the parents should continue to own it and live in it as their primary, leave it to the daughter when they pass, and she inherits it at the stepped up cost basis. 

It cost $38,000 for the framer to take on the risk and do the work - and that does not include the cost of the GC, or architect, or plumber that was also required!)