The property was sitting on the market for about 30 days due to the condition, seasonality (it was December), and smaller size of the property (about 1300 sqft). 

@Matthew Finamore - Reach out to Steven Turner with Morris Insurance Agency, LLC.

A more general observation on this topic, intended for you and any future readers - find out from the agency that has control over this area exactly what it takes to LOSE grandfathered status.

If so that can work in very specific red hot markets.. however experience has dictated to me over the decades that land can take a long time to sell .. many times has to be sold on contract to move it.. or if its cash you have to have the lowest price parcel of any similar ones on the market to move it timely for cash..

We first identify a market of opportunity.

The last market valuation of this property was ~650k.

Meaning that if tragedy happened and the unit was unusable, they'd cover market rent.

When you're fully ready for analysis check out the renter analysis tools and don't be afraid to post questions and ask for help, everyone is really supportive :) A good first step and great lending resource (super important in today's market) might be to check in with my lending guide and bestie of 20+ years @Joseph Chiofalo they lend nationwide and he's very patient with newbies and can help craft a workable plan towards portfolio growth.

You will learn so much from people who know the market and they will also have resources that will be useful to you.As for the properties themselves, it never hurts to start looking.

This property is fully renovated bringing in 20k a year, it's currently under market rent value so the next investor I assign it to can increase the rent, up to market value.