This was a live auction that I participated on via telephone.

They don't participate in the profit or appreciation. 

Future plans to cosmetically renovate 2 of 3 units, enhance curb appeal, and add modern touches (keyless entry, smart thermostats, etc.).

Thank you everyone for your time, participation, and thoughts.

Tell us about a failure, what you learned from it, and how you turned that failure in to your success story.Thanks for participating!

If they are being rented for less than 30 days, such as an Airbnb, and you are materially participating in the management and maintenance of the property, it is an active investment like a hotel or other business.

Welcome to the BP forumsA specific investment criteria makes for success, enhancing focus.Starting local is best.I'm also newbie like you, yet to crack it on that first dealAll the best going forward

I wonder if there is any liability if the tenants union suggests a rent strike because I would just start handing out term notices to everyone I could who participated.  

They gave me details on local monthly rents, access to leads for my furnished rental and suggestions for enhancements that will allow me to easily increase my rent without spending much more money.

Cost effectiveness:Find inventory at wholesale prices.NegotiateUtilise Private money /wholesale/ lease option Sweat Equity on rehab for enhanced profitabilityExit strategy-retail,hold as rental, after refinancing with long term cheaper financing