@Mann Phan When you went to buy you should have done an analysis of a few things; market for property value basis and market in general - rental market and viability of that - CAP-X, to assess exactly where everything in the structure is at, how much life left, and formulate what impactors are potential to come and how soon. 

We went to go see a house that is below market value however, the house needs quite some work. 

@Myrtle Mike Thompson hit in on the head.we did around 145k in our two beach houses this year but we bought two 4/4's for $570k that are worth around 1.2mm right now and used mostly cash, leverage of around 200k from a portfolio- total on them.deals are out there but in my opinion you need a good realtor for boots on the ground and insert yourself into the market your looking to buy.

We invested $20,350 in strategic renovations to enhance the property's appeal and market value.

What are the market rents for both units?

Thank again I heard the market is still steady so maybe someone can advise better on it. 

I'm a real estate agent that specializes in working with investors in a second-home market in the Northeast US.

But of course, this all depends on your market and what your guests are looking for in 2- or 3-bedroom properties.

It seems like you can find Lakefront properties for under 500K and wanted to talk to any investors who own property there to get a sense of the market and what kind of numbers they are seeing.

Any tips or pointers?