I see the growing potential in the rental properties around the campus area, especially since multiple deals have been made by Lex Wexner himself to improve the streets close to OSU.

Deferred maintenance or capital improvements?

This is a cash or terms business.One tool is not enough.Situation - Free and clear pretty house ---> installment sale - private mortgage, low down, buy and hold or resell.Situation - no equity pretty house ---> sub2 or wrap or lease option assignment, exit rent out or lease 2 own or resellSituation - 20% equity pretty house ---> list it if licensed, sub2 plus noteSituation - 40% equity ugly house ---> wholesale flip or JV and buy it or JV with the seller (buy sub2 + note, own it, jv agreement, improve it with private money, list it, resell it, pay off former owner and private lender, make JV fee of 5% +)There are other tools but that is enough to get a strain on your brain. :)And just because you understand those tools, does nt mean you can persuade the seller to use one of them.Cash or terms. 

The last improvement or worthwhile repair was in 1997, The uncle really let it go…Linval- Your right about the family part, I didn’t want to type to much in the initial post, but I keep going back to the numbers because the money that the in-laws get from the sale will get the 3 brothers who are essentially squatting in the other property to move out.

Not much, but I figure it's a good learning experience and it could be easy money.I've been thinking through exit strategies in case this buyer falls through and for some reason we can't find a backup:Potential Plan B: Minor Flip / Make improvements to improve it's appeal. 

Not much, but I figure it's a good learning experience and it could be easy money.I've been thinking through exit strategies in case this buyer falls through and for some reason we can't find a backup:Potential Plan B: Minor Flip / Make improvements to improve it's appeal. 

It is cash flow positive, but my belief is as it continues to appreciate, the cash flow will improve.  

But looking around Google Street View it seems you may have over-improved for this particular neighborhood.

These assets normally are in need of a capital improvement campaign and/or a serious management turnaround.

It worked out ok for us.I did some landscaping which I liked when I lived there, but it was too high maintenance when we moved and I managed it as a landlord.I did some "home improvements" because we were excited about our first house, which in retrospect did not help might have hurt the rentability.One year after we moved to a house, my wife got a job offer out of the area and we moved.