Many people like the buying a small multi as an owner occupant to get their foot in the door.

I say this because I've dealt with them before when I used to do door to door sales.

I have narrowed down to 2 potential houses but they've got some work to do:  roof, kitchen, bathroom, electrical.Ideally i'm looking for a general contractor who can view the properties with me and provide an estimate for the repairs needed.  

I am now called the Tourist Guide because prospective tenants line up at the door sometimes almost 10 people and I have to control who enters, 2 at a time.Only if I dont get the apartment rented by the last week I will show it every day in the evening.Renovations are stressful but the good thing is that I only buy one building a year, lets say for 700K.

I currently have one mobile home I am renting on one acre of land and a additional acre of land with nothing on it, but the septic tank in the ground and its right next door.

When you are next door to a gang hangout or a drug house or there is a shooting in front of your house (or any number of situations), it affects your valuation.

The only way to get more doors than that is if you buy 2-4 unit multiplexes.

Thanks for your help...the last thing I want to do (or anyone else for that matter) is acquire a property that will be vacant for months due to not understanding the market.

Investors are supposed to be knowledge and able to take a risk, otherwise they shouldn't buy from HUD.If your numbers were off that much you either didn't look at the house in person or need to work on your ability to assess a property quickly without a contractor going through every switch plate and door knob with you.

And the plug in in the front bathroom doesn't work and hasn't since I bought the house but wasn't aware until after.