So we accepted the offer and proceeded with the inspections.As of yesterday I was informed that the house failed several items during the inspection, and the total repairs are estimated at $2k (the most expensive of the repairs is a new Central AC system).

I agree that the 3 bedroom is under rented, but $650 is really market rent for a 1 bedroom apartment without central air.

@Talyta Noronha Welcome to BP from Central Louisiana!!

Hey guys, I am looking for a Central Florida real estate agent who also invests themselves.

Hey @Brent McKee, yes I've considered mini splits and  prefer them over adding central HVAC in a unit without any.

There is some areas in the Central Valley of California (Fresno, Stockton, Modesto) that have much lower entry points then the Bay Area would this still achieve the goal you stated above.

., Your property has central heat/air, and most in the area don't) but I would caution against going too much over the average market rates. 

Central Valley developers make sure to take a peek at my Marketplace post for a great development opportunity (32-36 homes) in Tracy, CA!

Like here they'd make you put in a central sprinkler system in all 3 units to qualify for a loan on something like that and if you figure that out later after the walls go up it'll hurt.

I'm also looking for a good home inspector in the Central NJ or Princeton area.