Should have known there are no easy answers in the tax code! 

I flew out to Phoenix three times before purchasing anything finding the zip codes I wanted to invest in.

I have seen the numbers and I understand why it works, I just don't have the nuts and bolts of it.In a COBOL programming class many years ago, the class material provided the loan amortization formula and it was up to us to write the code to produce an amortization schedule.

Since its inception, there have been new investors that have thought that the grass is greener on the other side of the border and has convinced themselves that they have cracked the code on how to safely invest remotely, that this time it is different for them, and they will succeed where the many thousands have failed.Heck, Julius Caesar knew of the perils of out of state real estate investing ... and if his property manager did not perform he would take their head off.

Chad Fernendaz you also have to take into consideration whether adding a bath is going to trigger code issues that require you to upgrade water service which might make the flip a loser.

Each state and each utility district has its own incentives and rebates, and even then, all other things being equal, properties in one zip code may qualify for certain programs that others don't.  1.  

.- Some cities try to put you out of business by cracking down on code compliance issues and nuisance calls- Not many people want to deal with the hassle, hence the high cap rates.- Can be hard to find good management when you want to grow or move on.

I read the GA code annotated tittle 48, chapter 4, article 3 - but it stops short on redemption.

Some examples of habitability codes are functional toilets, functional sinks, functional smoke detectors and carbon monoxide alarms, weathertight windows and doors leading outside, bathrooms must have a mechanical vent or an easily opened window, a bedroom must have an easily opened window and either two electrical outlets or one electrical outlet and a light fixture and all pipes, plumbing and electrical must be per code.

The downstairs would be up to code for everything but a separate swicth panel, which would need to be done.