@John ArendsenIn addition his debt to income ratio is not very good but there is plenty of equity.

Let me know if you need anything or have any additional questions.

Also, you can make a stronger offer if you are using cash.In my area, and given the units that I have been considering, this would result in about $100/m additional cash flow after debt service, and assuming 8% vacancy, conservative estimates for taxes and maintenance.

The first number that came up in my head was $15k and a new fence.If I can't subdivide I will keep house and add 1800 sq ft addition and house should be in $680k to 700k max.

Despite the "common hearsay" aluminium wiring can be safe, provided the correct receptacles/fixtures are used, or the ends of runs were properly pigtailed to copper.You definitely want breakers over fuses and you would want to confirm the existing circuits have the capacity to handle today's electrical loads and that there is additional room in each unit's panel.

You reduce your competition drastically by putting in the effort that most would balk at!

To get there I am working on increasing my income and reducing my daily living expenses.I had a massive personal budget overhaul about a year ago and reduced my expenses as much as I could, all expenses are planned and budgeted and I know exactly how much cashflow I have each month if there are no unexpected expenses.Part of that is I am focusing on flipping/wholesaling property to build more capital and then use it to buy more rentals as well and focusing on increasing my J.O.B. income until I can do REI full time.I think either route can work, buying only rentals may be a little slower at first but if the equity and cash flow are managed well it can increase more and more.

In addition, I am not sure the mail laws, but I might believe that I cannot pick up or hold someone's mail that isn't mine.What do you guys do in these cases?

I would leave the overgrowth and trim it, add it into the landscaping and fix/clean the flooring.  

People moved in with parents or took on additional roommates lowering the demand but there were so many empty bank owned units that the supply was also down.