You essentially bought this deal at the bottom of the market back in 2010 and it still only cash flows $100/month.

I think essentially its the price point.

Essentially I was just hoping the appraiser wouldn’t put the appraisal in the $800K-$900K range.

You would disturb the tenant's right to quite enjoyment by renovating the house and then you would essentially change the terms of their lease by adding another roommate to share the kitchen, bathroom, living room, parking, etc.

Essentially the FHA underwriter will ask for a copy of the leases to verify that you can move into the property under those requirements.You can absolutely accomplish this and the tenant does not have to move out before closing.

Here in Salt Lake City STRs are essentially illegal, but tons of people operate them anyway because the city doesn't really enforce it.I imagine one day the city will decide to start enforcing it, and then everyone will act shocked and caught off guard that they can no longer operate their illegal STRs.

This is a hard money only deal- the exit strategy is to either scrape the lot and sell in 18 months or come up with the cash to rehab the house to meet current health and safety codes in 18 and then refinance.

Mortgage payment is $1,000 on each house, so you're essentially earning $500 per house or $2,000 a month.

The only thing that matters really is if the numbers work as you are essentially financing 100% of the deal.

You are essentially selling and owner financing.