Let's break things down, hopefully, I am understanding everything correctly...Exit Strategy 1: Full Rehab and Rent IncreasePros:Higher ARV (After Repair Value): This strategy could potentially increase the property's value to $126,000, allowing for a higher cash-out refinance amount.Higher Rent: After the completion of the Scope of Work (SOW), the rent could be raised to $1,000, generating more monthly revenue.Long-Term Value: Completing a full rehab could increase the property's long-term value and appeal, making it more competitive in the market.Cons:Higher Initial Investment: The SOW budget is significantly higher at $15,750, requiring more cash upfront.Vacancy Risk: Asking the current renters to vacate for the rehab introduces the risk of vacancy and lost rental income during the renovation period.Longer Timeline: The rehab process and finding new tenants could extend the timeline before the property starts generating its anticipated cash flow.Exit Strategy 2: Minimal Repairs and Keeping Current RentersPros:Lower Initial Investment: With a SOW budget of just $2,500, this strategy requires less cash upfront.Quicker Turnaround: Completing minimal repairs and keeping the current tenants can significantly shorten the timeline to start generating cash flow.Reduced Vacancy Risk: By allowing the current tenants to stay, the property continues to generate income, avoiding the risks associated with vacancy.Cons:Lower ARV: This strategy results in a lower ARV of $110,000, which affects the cash-out refinance amount.Lower Rent Increase: The rent increase to $900 is less than what could be achieved with a full rehab.Future Repair Costs: Minimal repairs might not address all the property's needs, potentially leading to higher maintenance costs down the line.Financial Analysis:Cash Flow Considerations: Both strategies provide positive cash flow before reserves, with Strategy 1 generating $160 and Strategy 2 generating $148 monthly.

We might potentially do hostels

Also lots of potential red tape from state and federal government.

What information should I be getting from a realtor on a potential rental property? 

When eyeing multifamily investments, you’ll likely encounter two key metrics – cap rates and gross rent multipliers (GRM).At first glance, they seem similar, but there are some important differences between the two.The GRM simply divides the purchase price by the property’s total potential rental income–it doesn’t account for operating expenses.Cap rates, on the other hand, factor in both income AND expenses to give a more complete profitability picture.The main advantage of cap rates is their ability to evaluate better and compare investment returns, risks, and value.

However, if you're looking for a strong market with lower numbers, you do not have to leave the state of Georgia to find them.Areas such as Athens, Augusta, Statesboro, as well as Macon, to name a few, provide great opportunities for flipping and even higher potential for buy-and-hold strategies since all four are college towns.

It's a growing area with lots of potential within 3-5 years.

However, I still want to minimize potential issues, especially when it comes to hiring a real estate agent.I bought my primary residence back in 2022, but the real estate agent I dealt with wasn't particularly helpful in my opinion. 

I'd like to know at what stage of renovations you will list your property for sale such as during the final paint touch-ups, during the finishing touches, or do you wait until everything is finishedI am just trying to get an idea if it would be professional to get potential buyers in earlier to walk through the propertyThank you 

Since I believe an option is not an interest in real property but represent a potential right to purchase one, where does that leave the optionee in lien rights?