Most answers will be coming from a personal experience but without being biased they can be great if you have them in the right locations.Properties surrounding Amusement parks, national parks and beaches are all great.We hold a couple properties in ski resorts and those are rented all year long even with the insurance, HOA fees and property management fees being a little on the steep side.Its all about location just like anything else within the real estate industry.Regards,Andres Calderon

It needs a new roof, driveway, mechanical, electrical, plumbing, flooring, cabinetry, minor foundation issues, and more.  

Home has new roof, windows, and security system.

Since, I have had a roof leak, a faulty dishwasher, ants, etc etc .....

The roof will need replacing in the next few years, but not necessarily today.

Some things that tend to get overlooked: - cost of turnovers- quality of residents in there now  and how quickly they pay rent (i.e. might have some late payers) - deferred maintenance - leaks - faucet, tub, toilet - capital improvements (i.e. roof, driveway, etc.) 

  - Yes you can do that I've had investors do that before and there are no seasoning time frames for rate and term refinances or for the loan on titleOr you can find a portfolio lender locally to do a cash out refinance usually up to 65-70% LTV on an ARM as portfolio lenders usually do not offer 30 year fixed loans atleast not with out steep premiums to be paid.

Solid area to be looking, and the pricing isn't through the roof much like Austin right now.

The house needs everything: Roof, gutters, siding (asbestos shingles nailed over older cedar shingles), drainage abatement, rehabbed bath, total kitchen, replaced flooring (half), refinished flooring (other half), back steps, total landscape, HVAC (old furnace is missing), insulation (2" in attic; none elsewhere) additional electrical circuits, plumbing includes iron pipes, interior trim and paint.

Demand is through the roof!!