I thought it was a mistake because Condos in the area in similar condition and age were $50-100kI did a nice Reno on it and had about $20k into it and listed it for $75k hoping for a home run.

:Nice post.But this is why I’ve never flipped.You made $2750 over 9 months.That’s $306/month active income.And the asset is now sold.Forever.Given all that stress and sweat, that’s abysmal return.After taxes,it’s even less.But lesson learnt.I just finished flipping my first home at the age of 32 years old & my company stands to make a $90,000 profit (already under contract)...

Eric, thanks...that’s my concern... definitely don’t want to be in violation of fair housing, but from what I see on the HUD website, it doesn’t specifically spell out my reason  for  requiring higher monthly rent/deposit: The Fair Housing ActThe Fair Housing Act prohibits discrimination in housing because of:• Race or color• National Origin• Religion• Sex• Familial status (including children under the age of 18 living withparents or legal custodians; pregnant women and people securingcustody of children under 18)• Disability Nine people certainly equates to more wear and tear on the property and as much as I am all for “ The more the merrier”  I want to make sure that the tenant would be held responsible by having more skin in the game to compensate for the added wear and tear of such a large crew.

Old houses have cast iron pipers that will disintegrate (because of age and/or foundation shift).

@Corey Kenney The actual year built in an appraisal doesnt have as much weight as effective age.

I have one older duplex that was build in 1920 we bought for $72k, and it's still around $550 due to its age and it being a duplex.

I would, check the age of the liens against your state's statute of limitations.   

In addition to what you mentioned, I look at: crime rates and in what areas crime is most concentrated, % of renters vs. owners, age demographics, employment diversification, median income levels, home values rates looking for appreciation, economic activity such as development projects both commercially and residentially, rental rates, vacancy rates, landlord/tenant laws, etc.  

If you get one home a year you will well pass your prime income producing age where you have no day time job getting another mortgage. 

Opoulos or yours truly was born in West Jordan but moved to Sanpete county Ut at the tender age of three.