They do not consider paying 30 to 40 cents on the dollar unless the past tenant is very collectible and has a lot to loose.

Well @Jeremy Basiger You've got a lot to analyze and verify for sure.  

For me, that's a lot to figure out initially before moving to the next step.I love the idea of applying systematic processes for success and repeating them to scale up.

If they are looking to hit the lotto like other members have discussed via the mentality of Flip or Flop.

I am new to vacation rentals but have numerous long term rentals.  

I think alot of the answer depends on your intent when purchasing the original property and numerous other factors as outlined in this article;Forbes Article on Cap Gains vs IncomeI would recommend getting a trusted tax advisor involved sooner rather than later. 

While I do like the larger kitchen, I realize now that it is going to cost a lot to relocate everything else in the process of getting the one thing that I want.In case the text doesn't show up with the link, this is a single floor house with concrete floors.  

Amit, I have done numerous frame work.

You have to be careful about this throughout the City of Indianapolis, but I have seen it specifically in this neighborhood on numerous occasions.

Here's another suggestion that I have forgot to mention numerous times previously.