First, you should consider what expenses your property typically produces for tenants in addition to the rent.

Hello BP,We built an addition to a SFH and converted it from a 1-residence to a 2-residence unit. 

I recently was advised by my broker that in order to purchase an additional property in the future I had to pay down more debt (I have great credit, I work in the medical profession with great W2 income, etc etc). 

That is why, in addition to a few others, not a lot of people hold property in their retirement accounts, but rather they buy mortgages.

Now that this work was done, each apartment only has 15 amps and there's washers, dryers and most have one or two additional freezers as well.

I was planning on still having 50% of my IRA remaining to continue to grow, in addition to 100% of my wife's. 

In the last 30 minutes, it was bid all the way to $155,000 (and add another 5% for Buyers Premium) so this property was not likely an investor, but someone who wanted a small discount on a home for them.  

We ended up starting to pay rate three or four months later, which even that was severely discounted from typical prices in the area.      

I've a couple questions:1) Is this how the process works for correcting existing addition to the house?

What type of discounts do you usualy look for when purchasing a turn-key rental property?