And consider attending local meetups to network with other real estate investors, gain sights from their experiences, and potentially find mentorship opportunities.

We had the sewer line scoped before closing so we knew there could be potential problems and that $12k would be the worst case scenario if we had to replace it.

They can help you navigate the feasibility and potential challenges of the conversion.

I am not sure if there has been a change of mgmt or something else so wanted to get a POV from other potential clients of theirs.

If I'm in the situation I would never count on receiving any money, but at least now I know a course of action that could potentially aid me and will effect their reports to aid other landlords if I ever need it.  

That’s potentially another thirty-five years after retirement.Even if you have enough to last through the end, that amount will likely be much smaller than the amount you started with when you entered retirement, because you’ll be spending your savings during that time.

Make sure to factor in any potential maintenance costs, like repairs or upgrades, especially since you mentioned a few fixes are necessary.

Michael, something I want to add to your spot-on comments; I see a lot of inexperienced STR buyers, buying a property to be a STR either on their own (FSBO or through the listing agent), or through a buyer agent that has little to no experience with STR's and who doesn't have a a great STR network, strategy, has no ability to analyze a property's STR potential, doesn't know how to assess and recommend remodel or what it will cost or how long it will take and what's required by city/county, etc.

Had some add'l work on the front end but was able to just take over the existing policy.One potential positive...if you have a higher risk tolerance and you're the buyer use this position to your advantage to negotiate a lower price point. 

Again,  I am only at a 21 day late period currently but wanting to avoid a potential snowball event in the future.