You can have two houses that are identical according to the data on paper/ virtually, but millions of dollars apart in value for infinite reasons that you just can't know without being there (level of finishes, condition, smell, same builder or different, how the property will show to potential buyers, micro-location (same sub-division or different one across the street, one has awesome views while the other doesn't, one could be on a lake while the other isn't, one could be next to gas station or on a busy street, near train tracks, a smelly factory, backing to commercial or high density multifamily, one could have settling issues with the foundation because of expansive soils while the other doesn't etc. etc. etc.).

Let's break things down, hopefully, I am understanding everything correctly...Exit Strategy 1: Full Rehab and Rent IncreasePros:Higher ARV (After Repair Value): This strategy could potentially increase the property's value to $126,000, allowing for a higher cash-out refinance amount.Higher Rent: After the completion of the Scope of Work (SOW), the rent could be raised to $1,000, generating more monthly revenue.Long-Term Value: Completing a full rehab could increase the property's long-term value and appeal, making it more competitive in the market.Cons:Higher Initial Investment: The SOW budget is significantly higher at $15,750, requiring more cash upfront.Vacancy Risk: Asking the current renters to vacate for the rehab introduces the risk of vacancy and lost rental income during the renovation period.Longer Timeline: The rehab process and finding new tenants could extend the timeline before the property starts generating its anticipated cash flow.Exit Strategy 2: Minimal Repairs and Keeping Current RentersPros:Lower Initial Investment: With a SOW budget of just $2,500, this strategy requires less cash upfront.Quicker Turnaround: Completing minimal repairs and keeping the current tenants can significantly shorten the timeline to start generating cash flow.Reduced Vacancy Risk: By allowing the current tenants to stay, the property continues to generate income, avoiding the risks associated with vacancy.Cons:Lower ARV: This strategy results in a lower ARV of $110,000, which affects the cash-out refinance amount.Lower Rent Increase: The rent increase to $900 is less than what could be achieved with a full rehab.Future Repair Costs: Minimal repairs might not address all the property's needs, potentially leading to higher maintenance costs down the line.Financial Analysis:Cash Flow Considerations: Both strategies provide positive cash flow before reserves, with Strategy 1 generating $160 and Strategy 2 generating $148 monthly.

They are getting what they really want, and you are crafting the deal to where it will still make sense for you.One potential issue is if what is most important to them is most important to you as well.

What information should I be getting from a realtor on a potential rental property? 

When eyeing multifamily investments, you’ll likely encounter two key metrics – cap rates and gross rent multipliers (GRM).At first glance, they seem similar, but there are some important differences between the two.The GRM simply divides the purchase price by the property’s total potential rental income–it doesn’t account for operating expenses.Cap rates, on the other hand, factor in both income AND expenses to give a more complete profitability picture.The main advantage of cap rates is their ability to evaluate better and compare investment returns, risks, and value.

However, if you're looking for a strong market with lower numbers, you do not have to leave the state of Georgia to find them.Areas such as Athens, Augusta, Statesboro, as well as Macon, to name a few, provide great opportunities for flipping and even higher potential for buy-and-hold strategies since all four are college towns.

However, I still want to minimize potential issues, especially when it comes to hiring a real estate agent.I bought my primary residence back in 2022, but the real estate agent I dealt with wasn't particularly helpful in my opinion. 

But my understanding is also that there can be tremendous tax benefits / write offs when it comes to real-estate.I am looking for more guidance from professionals on how to structure my investments and how I could potentially harness the power of depreciation and write-offs to legally save money on my active earned income.

For individuals navigating the demands of a w2 job and grappling with substantial tax obligations, exploring the potential of short-term rentals unveils a compelling avenue to mitigate tax burdens.

You will most likely have to pay HOA penalty fees, fees by the state if they have tenant rights in place and potential lawsuits from the tenants.