What I always advice new folks, is to find a mentor that matches your real estate goals.

For us we would need to wait I assuming at least 2 years to match market rents with our mortgage, equity is up the roof already.

Fixing cement issues, old wiring and old plumbing are not going to produce a return that matches the cost. 

Goes against the basics idea of asset-liability matching.

I see that you are interested of investing OOS, if I was in your shoes - I would totally try to find a mentor that matches your goals and have done OOS.

Look at comparable rentals that match the size and condition and location of your prospective purchase.  

Joshua, I recommend their deposits and the last month's rent be brought up to match the current rent rate.

They will be reviewing your borrowing risk along with the asset itself, and the assets ability to support the debt service.From a product standpoint: lower LTV, higher interest, often times short amortization and many times terms and am don't match: i.e. 20 yr am on 5 yr term.

Hey all,My business partners and I are considering a potential strategy we found matching our long-term business plan.

Make connections with local investors who would be willing to match cash or get into multi family.