If I will be investing thousands of dollars I really think the cost of airfare and a brief stay can't be compared.

The owner before me had collected first and last month's rent, AND a performance bond that would be refunded after proper performance of the lease. 

A good accountant and a good broker are worth the money in the long run!

A lot of lessons learned and A LOT that needed to be done from top to bottom.

Our property had shown signs of termite damage to a structural beam during the initial inspection, and I paid for both a structural engineer (to verify the beam’s integrity was sound) and a termite inspector (to verify there was no active infestation).  

The difference between a true cash buyer and a "true cash buyer" is where the action is; make sure you drill down on that!

You need to structure the deal as follows:700k purchase 100k construction (deferred maintenace)800k total acquisition20% down consisting of two parts... 80k refinancable equity from your condo and a 80k seller note 2nd mortgage (your dad) Wrap up those big ticket deferred maintenance items right away.

You are saving up your down payment anyway, I would wait until a good 4 unit comes along. if you’re only putting down 3.5%, the difference between the down payment for a 4 unit and a duplex/triplex is not gonna be that big. 

And a court would not think highly of your paperwork because the price does not match the market. 

Dilapidated properties, train tracks, school zones, busy roads, air strips, gun clubs, flood zones, etc.My goal is always to make sure that my buyer goes into an offer with their eyes wide open and as much negative information as possible.