Patching an area is a good way to go in many cases.Check feed back and references, give the contractor as little as possible advance money, preferably nothing, get multiple quotes on the same job and materials and don't go with the cheapest bid just because it is cheap!

Also, be very, very careful with any non-tenant staying there more than a day or two, because 'guest' can slide into 'legally protected squatter' alarmingly fast.For these reasons and others, I've become more interested in alternate renter pools - furnished bedrooms for travel nurses, professionals on temporary assignment, people with weekly gigs in Austin but who return to Houston on the weekends, etc.

Alternatively you put 40k into a cosmetic fixer and you get more than 40k equity.

I agree with Joel that DGs in more suburban areas are more desirable due to the fact that there are some alternative uses in a more populated location if DG vacates the building after 10 years.

Also, any recommended learning materials would be great as well.

Cincinnati has recently implemented an alternative security deposit option for renter’s to pay.

Alternative housing has been growing since 2008.

Also, any recommended learning materials would be great as well.

@Algerson Andre nothing has materialized yet.

Clunky, dark wood, and rustic furnishes are being traded for light and airy colors, fabrics, and materials.