If your numbers are correct I would definitely pursue this deal.

If you do have the funds, and want to do some of the work like installing flooring, painting, etc. yourself, I would skip the renovation loan and additional requirements that come with it and keep things simple.If you don't have access to additional funds and don't have the ability or desire to work on the property yourself, and the property won't qualify for regular financing without some of the repairs, then I would definitely recommend the 203(k) loan.

They probably have an army of analysts crunching the numbers to the higher-ups.Big assumption but every time I see a decent Starbucks or other retail store open up in a city it definitely catches my eye.

I've spent plenty of time in Leesburg over the years, but I'll be putting on my investor glasses this weekend to get a better lay of the land.If you guys haven't met @Russell Holmes yet, you definitely need to - this guy knows how to do some research!

Hi @Jason Gott, you should definitely draw up partnership agreement using an attorney who knows real estate law if the both of you are doing a deal together.

Will definitely check out that section.How's the Las Pinas / Manilla market for investing these days?

However, usually if its preexisting it won't be required, new multifamily builds definitely require carports or garages. 

I will definitely ask him about any contacts he might have for rehabbing. 

Thanks Preston, I definitely plan to start going to the meet ups as soon as possible.

@Amy Kendall We have mainly done lease-purchase and owner finance, but the numbers on STRs definitely caught my attention, so we're exploring that now.We like Cobb for the low taxes, but we're invested in Gwinnett, Fulton, DeKalb, and other Metro Atlanta counties as well.