I am single with no debt and am looking for a 4bdrm property at around the 300k price point ($330,000 max).

Hi, all - I’m working toward my first deal, and I could use your help with options to acquire a single-family home that a friend of mine owns.

Asking rent is $2550 + utilities, first last security deposit is $7650 (which both strike me as a ton of money and beyond what I'd comfortably choose to afford, but this area is kinda going nuts).Last night, the most recent prospective tenant (single mom and high school daughter) said she would sign a 2-year lease and have the cash to me before Monday.The other competing tenant (family of 4) is actually former tenants. 

I'm located in Monroe County, and do well within our 9k person town with single family rentals.  

I just want to open as much of that space up as possible after the removal of the furnace/heater and create the largest single room possible, or at the least combine the closet room and the furnace room into a finished room with a floor more comforting than the current bare concerete.

In order to convert the house into three units it will need at least $ 105k in rehab.I believe a savy investor can turn the current property into three units plus develop the two l0ts and build two duplexes or two single family houses ( arv for the area  2/2 130-140k   3/2  160-185).most houses in the areas are rental properties although is a very convenient area close to all major highways, MLB Statium and 15-20 minute drive to city capital (Atlanta). i would like to wholesale this deal  or possibly partner up on the deal.. 

So far, I've been using the BP calculators to analyze single family homes. 

Eventually I would like to get into single or multi-family rental properties. 

My main interest is in multifamily homes, but that's mainly because it's easy to see the rent potential in multiplexes ( I mean, that's what they were built for) and haven't developed the eye to see the potential in single family homes.

You have more than enough votes to sell all the units to a single investor and everyone can cash out for a nice profit.