That way you can put 3-5% down and the rest of your cash reserves would be available to update the property.

Will do some digging... what kind of price point would an updated SFH go for in your market? 

I am buying a house in Seminole Heights (pending inspection) and found that there has been plumbing and electric updates in the home, but public records show that permits were not pulled.

@Joel Patterson I believe there is a FB group for Big Bear/Lake Arrowhead STRs that provides updates, resources and could connect you with someone who can give you those insights as well.

Property overview;3 bed/3 bath/3000 sq ft fully renovated house4 car garage that has a carriage house above that could be a ‘getting ready’/bridal suitePavilion with commercial kitchen, electricity, bar area Pond and grassy area for ceremoniesParking area for 100+ carsRustic barn that could be updated for additional event space. 13 acresI have experience running large scale, high end events and would like to take on an operational/boots on the ground role with this property.

The renters have been there for 15 years 10 years 3 years and 2 months. 2 of the units have been updated some about 4 years ago.

Are there any year ranges of properties that you would avoid for difficulty of updating and rehabbing, i.e. years where lead paint were issues, years where certain building materials where outlawed etc? 

. - Unit is fully updated and would need no work that the eye can see.

Best of luck and keep us updated!

Granted these units were built in 1988, however they have been updated and do appraise in the 110-125k range.Question: Are others experiencing this issue and if so what have you done to address it.