After all was said and done it showed me walking away with $40,107.50 (my target goal was $40,000 profit).The final numbers were:Purchase $91,500.00Renovations $73,587.97Sold Price $250,000.00After closing costs, give back and all in the profit $67,571.60So the largest area of savings was in regards to AC.

It worked out and we eventually turned it over when we had enough owners.I met with a representative of the largest rental company.  

If they are only seeking a check every month and the largest amount possible based on the equity of this other property then sure it's a fine decision.A couple other thoughts though:With a smaller multi-family a vacancy is felt more financially than with a larger one, but the extent of that is influenced by the market's local metro and property location; andWhy not use some of the equity from the property to fund the purchase of the smaller one and then have two properties generate (probably) the same amount of income or more with debt service on both.  

As most of you know, that and recreational is legal here and there are a lot of houses advertised on craigslist and such as "MMJ friendly", just to let people know that they are allowed to grow in the house or on the property.

Big drivers are the hospital/healthcare presence between Sentara, Eastern Va Medical School, and the children's hospital, also easy commuting to downtown Norfolk for banking and legal, AND you're a stones throw away from the largest college in the area, Old Dominion University.

Over 6,000 community owners and retailers have worked with us to set up a Compliance Management System including the largest community owner group, ELS, right down to many community owners with 50 sites.

Hi @Alex Chau,The largest challenge you will face is getting your 3.5% FHA offer accepted when competing offers will be 25%+ down conventional for an open market MLS property.

My largest turns have been found through direct mail.

The two largest in your area are BREIA (www.breia.com - next on is one week from today), and DREIA (www.dreia.org). 

I volunteer with one of Sacramento's Largest Real Estate Clubs (Capital City Wealth Builder's).