My hope for you is that by having a higher end unit maybe you'll be able to be more selective about the tenant and it will all work out!

If you’re free tomorrow anywhere between 12pm - 3pm leave me a message on here or shoot me a direct message to work out the specifics.

I tend to stay away from converted houses that are in really poor condition generally as they often have so many code and major structural issues they don't really work out.

Is it simply because there's not a lot of work out there and many contractors our lowering their prices to get anything they can?

I suspect your numbers work out so favorably because you may have a higher equity to value ratio than most just buying.  

The terms are subject to the situation, but you may be able to work out a situation where you allow an investor to go 50/50 with you and their role is solely providing the funds while you do all of the work.

You will get a feeling for which properties will work out for your investment plan.

I'll start by saying that I hope your life changes work out for the best! 

I don't see how the numbers work out on this property, @Caleb Ray.

If you want the property long-term, but not the equity partner, then try to work out a side agreement that gives you buyout options at certain intervals (i.e., every year, every 3 years, at the 1st, 3rd and 5th anniversary of the Closing on the property) based on some metric (i.e., then current appraised value or 3% per annum increases over ARV), so you can do a cash out refinance down the road, based on the increased equity value of the property.