You would have to put a small kitchen ( sink and undercounter refrigerator, microwave and counter top)  and a bathroom in it.   

What drives us is the idea of generating enough passive income to enable both of us to retire early and spend quality time with our kids while they are still young.

we spent several hours driving around and I bought my first two houses from he and his partner.

Is an effect counter argument that the down payment is small but I'm paying you an extra $150,000 more then anyone else, not to mention the interest you make on the $550,000 for the 5 years?

There are code enforcers that drive around cities and towns and all they're looking for is permits in the windows.

That's why you see people squatting in properties behind 1+ months in rent but talking on cell phones and driving cars with payments.

why would anyone go thru the headaches of being a landlord for such a low rate of return

Our original offer was 39% of ARV the bank said no and countered us at 50.13 of ARV and that worked good for us.

I want to put granite counter top on 1st renovation.

Not just on mls but actually driving to the properties and taking pictures.