Prop manager will have the most impact on your day to day success.

I mean lets say you take out a new loan and get $20k to get your next deal and now you are 80% leveraged on one deal, you put $14K down on a new place, $6k in closing and dew diligence... and wouldn't you know it something happened to your triplex, and you need $5k in cash today. 

So 8600-4831=3769But either way, even if I got higher interest or shorter terms; the cash flow today would just go toward paying the loan off.

The value today is irrelevant when determining depreciation basis.Cost segregation studies are not cost advantageous for a single family residential rental so no need to go there.I suggest that your grandparents might be better off selling the property and using their tax free §121 capital gains exclusion. 

The old workmanship is way above and beyond what is being done today and people will pay a premium for that.

Oh ya, and today is my first day on BP :)  Thank you for your help.  

@Nick Tzenevrakis - Process is a good thing, but something I am learning fast is this:1. 

One thing that just hit me today is: how much property taxes* might influence your return on investment.

Start with this article: https://www.biggerpockets.com/blogs/10145/72118-sy...I will be posting another one on syndication soon as well.Anytime that you use someone else's money and they are not directly a decision maker and doing the "day to day," you need to consider a syndication.

Rents were going crazy, everything was renting fast, and prices were going up for a couple years.