It adds flexibility and helps manage risks in changing interest rate environments. 📈💼 #MortgageTips #FinancialInsights #MicroManageMortgage

With this in mind, I have several questions:1.

Maybe multifamily makes more sense to spread out the risks.

You need to get something out of this deal for the amount of risk you're considering taking on.Just some food for thought.

The amount you are willing to risk.

Issues with the property at closing: low water pressure, aging roof, several lights not working, dated interior, water stain under HVAC unit, damaged decking (burn hole & rotting boards), old appliances, holes in drywallAnticipated cost to renovate:  $22500 (includes roof, repiping from old galvanized pipes, renovation of currently empty unit)  The currently occupied unit is TBD on cost, the tenant has been in place for the past 3 years.   

If I do not, the risks of life and limb could increase substantially.

The fact that they’re CLUELESS about how a free market economy works; that they’re unable to differentiate between real education and a “con man” mentorship; that they believe everyone owes them; and that they don’t have a clue about risk, return, capital, labor, or any of the other basic economic concepts is more of an indictment of an educational system run for, and by people with a leftist agenda.  

It's a good rule of thumb to follow mate.We always get caught up on the potential of a deal or business and don't focus on a "worst case" scenario.Experience has taught me to become a "Negative Nancy" first and evaluate the downside from a risk assessment standpoint.I would always get too carried away and am optimistic and easily influenced to believe in the best in people and ventures.Only to get my A$$ handed to me on a plate.Well not anymore... lol

Petersburg or any other market, there are several key factors to consider.