And if you are a newer  investor, syndications allow you to hire a manager that has infinitely more experience and knowledge than you can ever hope to gain (and thus avoid newbie mistakes).The biggest disadvantage with syndications is that you have to be able to feel comfortable with vetting and choosing a manager that will have full control.

I'm curious, are you planning on keeping and painting the wood paneling or removing it all?

Differentiate on price and let the tenant choose.

Minor painting.

Or would you sell it to an investor thinking they might be more interested in the income numbers than paint color or other nit picky things?

Covering lead paint with regular paint doesn't make it lead safe.

One can choose to comply with the Safe Harbor Regulation D, 505, 505, or 506.

Hence my desire for asking the question as there are so many “processes” to choose from.

Sixth, you don't have any PM fees that will eat at any income (if you choose to self manage).Good luck!

I had been thinking for the last year plus that this house was the one on my block that met the perfect "driving for dollars" criteria- yard never kept up, weeds growing from gutters, chipping paint, etc.