$100 would get all eaten up over a furnace/air conditioner replacement or some other large expense.

Current plans include: new patio, solar panels eventually, moving the pool filter/pump from the corner of the yard to the side of the house near the air conditioner to free up space. 

If you have a few rentals, then a portable room air conditioner is a good investment for these situations.

Unless you have cash to put in a deal your cash flow will usually be tight in the first few years.An air conditioner on a roof can cost you 5K if it goes out on a commercial unit, if it is not fixed, you can lose your tenant, and since they are business folks, they may even know an attorney to get you to pay their relocation espenses, loss of business and other damages.Next, if you can tell me why the property is "distressed" you might be able to cure the problems.

I see a lot of houses on my block that have dormers, air conditioner in the attic windows and looks like its occupied.Is it possible to convert my house from 2 family to 3 family by adding dormer, a small kitchen, and second stairs?

BTW the same tenant wants to discuss a $17.00 / month rent increase (on rent of $1,095) and while he is at it would like an air conditioner replaced at a cost of $400 and greater insulation in the attic at a cost that is quoted as $595 - $1,000.

Understand the condition of your big ticket items (HVAC, furnace, air conditioners, sump pumps, plumbing, electrical, foundation, roof, etc).

Their mother began renting it out in 1957 and it has only had 9 tenants since 1957.Most of the major mechanicals/expensive items have been updated such as:     New Roof 7 years ago     New Hot Water tank     New Plumbing this year     Foundation Repairs last year     New Air Conditioner Condensing Unit todayI also asked him his bottom line and I think that I will be able to get him down to $65k.Does this change anyone's answer?

This air conditioner will run on environmentally friendly 410A freon.I found it online~$800 + I am thinking worse case scenario 8 man hours to install at $100/hour + $200 to charge the system.

One water heater or refrigerator or air conditioner or water leak and suddenly you have a zero or negative cashflow situation.