My first question would be:  is this one-level living? 

@Chaim Kernkraut, your experience, comfort level, and risk acceptance will determine the answer to the question. 

Decor upgrades, the addition of private hot tubs, and a fenced in yard for dogs have all added to the marketability and the occupancy level of the property.

The agents that sell foreclosures and fixer uppers to other investors are the ones to look for.

The two compliment each other because the brokerage side brings in much of the profit while the PM side levels out some of the volatility of operating a brokerage and also generates leads by providing access to a client base of investors using the PM service who are likely to buy and sell through the brokerage.

I like the process of finding a fixer upper and making it a nice house.Considered rental investments but right now to me and my wife - fixing and improving homes seems more exciting than managing a rental.

Their rates are typically high (12% or higher) depending on where you live, they will charge points, and your rate will largely be determined by your level of experience and how much money you contribute to the project personally.I'll let others with more experience chime in on this.

It is a crime and doing so warrants very serious criminal charges being brought against you on federal, state, and/or local levels.

but in the down turn the rental market held well here.. there were still some foreclsoures etc.. but all in all the upper end held.. but those proeprties were bought with 3 to 5 caps in the beginning.

I have used portable stand alone units (per room or level basis) and I think you can get whole house units as part of HVAC systems