Find a niche that works best for your life style.  

I'm in a very desirable area with the obvious red flags in my HOA dues, but it's a resort style community in a prime area so that's why it's so much - its also a very sound HOA financially.

The management style here is much different then my $1,095 and up rentals.Long story short on the blueprint of success for these homes can be summed up as:Buy right, I don't think Turnkey is the route here, it has to be bought cheap so that you do not have to achieve a market rent to cash flowMake it the nicest home in the area for $25 to $50 less a month then your competition.

The very 1st property I looked at in person was an 6 unit townhouse style row houses that I assumed was in great shape given the asking price.

Such a great inspiration - and in classic BP style.

My preferred style of dress is casual beach homeless - flip flops, cargo shorts, t-shirt.

I know your question is about an 80's property, but I have to say that for these types of renovations, I usually look at old re-runs of The 70's Show for style tips.

It is a HUGE OLD brick, solid structure 6 bdrm, no bathrm.It needs septic system and added indoor bathroom; roofing: chimney repair; rewiring; and an updated heating system. prestine location with like 100 ac. hardwood forest and 40 ac fields probably. it as an apple orchard, lots of maple trees for syrup. sunset, sunset view and southern exposure.actually i want it to turn into an organic homestead farm and run a buy local store/ and vending out space. aventually add some cabin rentals.

The same style and size townhome down the street just rented for $750 a month.

Consider Queen Anne, Victorians, the so-called Craftsman style - - these are premo properties when rehabbed appropriately.