On a small 1930s house do a thorough check on how the house systems were updated, roof, drainage, electric, HVAC, plumbing, etc not just the viewable interior.

I wouldn't do this until you're close to moving to that area and putting in offers, otherwise you're just wasting the agent's time.Best of luck and keep us updated!

Update on original post.

Hi All, I just wanted to update everyone on my 90 day challenge - day 6.

I read that the current owner has to update contact information/payment information with HAP, but does anyone know how long this takes?

We were thinking the following:  1) we know these potential tenants have a paying job, 2) no commute for the tenants which would be appealing 3) most are men who are working and sending money home to their families so a dated decor is not a big deal and they just need a place to crash 4) renting these guys enables us to get income immediately vs spending money updating the property.   

I will make another post when all of those updates are coming to a wrap.

We would like to fix up and rent it out but that will take capital to make the updates, which could be doable with credit and paying off from our w-2 income to eventually rent it out.

The property has been rented for nearly this entire time.The house has a good amount of deferred maintenance, is not updated, and has some water damage which we only recently (two weeks ago) became aware of.

Beside writing love letter to the sellers.Looking for tips on writing strong offer for cash strapped buyersLooking for tips when your listing a house that clearly needs updates but upgrades can't be done.