If you build a 200 unit location of 10/15/20 drive up access it will be worth $1mm day one above your cost.  

Since the property is there, I can only do investor loans in AL, but from a consumer standpoint you can do Conventional, FHA, VA, and USDA as a renovation loan where you take the cost of the property plus the cost of the renovations as your purchase price up to the value of an "As-Repaired" appraisal.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

If a seller is offering $10k in assistance but the PP is only $189k on conventional a loan with only 3% contribution allowed, what are all the options for the for any of the left over contributions after. paying closings costs ?

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

So more vacancy + higher turn over costs quickly eats into the C and D returns, often yielding returns only marginally better than A or B assets.  

Before submitting an offer, contact the Condo association to understand whether the property is non-warrantable (will require Non-QM financing) or warrantable (Approved by Fannie/Freddie) as that will impact the rates and terms you’ll qualify for  Lenders consider all costs when calculating your DSCR so get a head start by asking the association for HOA fees as this can really impact your ratio.

(If radon is an issue and you know about it as others have stated the cost to mitigate has gone down significantly and I’d do so).

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

I've had bad experiences with two different property management companies in Columbus that stemmed from them not taking timely action on repairs that cost me a lot of money and also not identifying obvious things in inspections that led to higher turnover rates and increased the time that it took to get the unit ready for the next tenant.