The landlord should have completed and provided to you in writing an initial walkthrough of the unit siting each deficient item.

So the upside is a bit larger initially for a sale versus cash out refi.With refi, payment would come out to roughly $750/mo for mortgage, and estimated rent payment at $1100.PM comes highly recommended, well known to business acquaintances and family.Re: 1031, we already would have someone lined up in TX, if we decided to go that route.  

Initially my goal was to have a loft with an extra bed in the unit to be more attractive for short term renters.

There is a cost to the initial education requirements.

The information provided about the case hints that there is an HOA that initiated the foreclosure.

Initially, I looked into residential property management (sectional title and HOA scheme management) and developing or investing in these schemes as I acquire expertise and experience as a property portfolio manager.

The initial expense is higher because these houses must be fully furnished.

My initial strategy was to just do regular long-term rentals with one year lease terms.

@Mackenzie Davis having an inspector there at the initial property visit is a good idea. 

My problem with larger MF is the initial cost.