It's a great way to invest locally and will teach you a lot about managing a property in a relatively low-risk way.

Construction costs and rehab costs very widely depending on your style and what you are doing to the property. 

I've got a good feel for how garden or mid/high rise and C/B/A class are trading in this market but not this style. 

If I was new to REI I would teach myself how to conduct a title search without having to pay for it. 

I've actually got another property, similar location and style.

Our buildings are both about the same age, style and condition. 

There are strictly cash-flow and strictly appreciation style investors and then there's the blended type that look at the IRR (internal rate of return).

If your communication style with potential renters is similar to the post you made, it is difficult for me to follow the line of conversation and the direction it is going as I read it. 

@Cameron BockHi Cameron,I enjoyed your writing style and the story (maybe post a pic of this historic landmark).100 year old building, job completed and under original budget (do they bonus you for this, or just pocket the savings and give you Brownie Points?)

@Diego Hernandez most don’t believe in partnership, the gurus don’t teach it, it’s not a quick buck, it’s not sexxyDo due diligence always, never trustWhatever you’re comfortable paying