They also have 10 months to pay back outstanding rent (Oct-July)... we have to lay out the plan to the tenant and if they miss ANY payment-regular rent of the outstanding rent/utilities; we can evict. 

My son isn't an architect, he designs the building, does all the site layout, etc., then we take it to an architect to look over and make any tweaks if necessary for permits, and a structural engineer does his stuff, saves alot of money that way, and best part is allows changes to be made immediately saving time.

I will second just about everything the other posters have already mentioned; but, I also want you to at least be aware of something nobody has mentioned this yet....Intuit employes CPAs, EAs, and attorneys for their ask a tax expert service.

Here is the problem...There are few properties with .7 x ARV less repairs less wholesalers fee.If you were a transaction engineer, the property was in a good location, good layout, good school district, consider a JV with the seller1.

He was planning on flipping it, but he decided to rent it out instead, given the layout would work for two separate tenants.  

Whether it’s cramming too many rooms into a small space or using walls so much that the house has a closed-in and claustrophobic feel, layout can sometimes make a huge mental difference in the perception of a house.

I'd be cautious buying sight unseen until you see the area, the layout, the "hills," and curvy roads.

Curious what the experts here would do for a layout.

You could modernize it, keeping the external historic charm, but the inside layout is not geared for modern living -  20' wide grand stairway w/ 16' ceilings just isn't practical in this day and age.

Account Closed  I do see things wrong with the plan, specifically, the layout.