Explain to them that you are a small time landlord not some corporation with big pockets, no pun intended!

You need more meat on the bone when dealing with older assets and it can be tough to find it and substantiate the work-to-profit ratio.Flip the conversation (pun intended) and if you find that ranch style product in the Durham "burbs" like around South Point, then its a no-brainer.

The big issue (no pun intended) I see is that the house is too big.

However you should be careful about such things because they can get derailed (pun mostly unintended) by political and financial issues, or they could take much longer to materialize than planned (see After Almost a Century, the 2nd Avenue Subway Is Close to Arriving).On the other hand, major retailers like Lowes pulling out of Woonsocket and going to nearby North Smithfield aren't great either.As you can see, you should really get to know the particulars (and, unfortunately, politics) of a new market before committing to it too strongly.

So do your homework (no pun intended) before deciding to take them (students) on.

A traditional shingle would give me pause as that rains on the parade a bit, pun intended

@Chi Ming Pun been with them for years

Yes, 1031 exchange options are in my back pocket (no pun intended). 

But bears mention (no pun untended).

It helps me gauge the overall return on investment and sets a benchmark for what I consider a successful flip.Minimum Dollar Amount Return:On the flip side (pun intended!)