It's beautiful, durable, and easy to install and maintain.

And she lives out of town, so all in all, recipe for disaster.It is sad, too, because it was, and should still be, a beautiful house. 

Adjusting rents would add to the NOI and justify a higher purchase price.But I also think I'm emotionally attached to the building because it's a beautiful 100-year old home in a prime location.

Obviously when marketing to investors rather than retail buyers the conversation changes from mostly aesthetics to metrics, so what numbers (ROI, PP vs ARV, cap rates, cash flows etc) are buy and hold strategists generally looking for?

@Dave Mukherjee   welcome to this beautiful business,  first at all,  what is your exit strategy? 

I found a beautiful piece of land (12 wooded acres) at a great value.

Such a beautiful symmetrical world.You can find more about the reverse exchange nuance by looking at revenue procedure 2000 - 37 which lays out the IRS safe harbor for it. 

The beauty of doing it this way is that 1) you are only paying for material 2) they do all the work picking everything out and coordinating the contractor 3) it gets done professionally and 4) it makes the tenant happy that you listened to them and they continue paying on time and being good tenants.

My price range is anything under $350k with room for aesthetic renos.

I have been desperately wanting to get into REI to help provide for myself and my family to provide a better life for my 2 beautiful children (both sub 3 years old).However, I am at the terrified point of how to get into it.