Just make sure you do your research on each property (of course) and have a good idea of what you are looking for (side of town, ranch, 3+ bedroom, etc...) 

Ideas?

I'd love to maybe listen to some of your cool experiences and maybe share some ideas.

I was listening to the BP podcast #167 with Kevin Wood, he mentioned he used a designer to give him ideas on a property.

Read my posts in this thread from minutes ago:https://www.biggerpockets.com/forums/83/topics/235...As to that deal, you won't have an option, you'll have a sale contract, the seller named his poison by putting requirements for maintenance in an option contract.

If you're still deciding on what interests you in particular in real estate the podcasts are a great way to get an idea of what's out there and all the various ways people have found to make a living in real estate

I have been checking rents on Craig's list to get an idea and have asked a local realtor as well to get his opinion.

It appraised for 1.2 Million 2 years ago, the location is perfect for a hotel, ANY IDEAS WOULD BE WELCOMED????????

I'm beginning to think long-term about what I want to do with the property though and someone mentioned to me the idea of converting it into condos.

I have always loved the idea of owning rental property, but I have no experience in real estate outside of owning our own home.