Wood frames/windows in the shower area is ripe for water damage issues...

In the podcast, Al talks about testing the waters by converting only 1 or 2 units into LTRs.

Keep plugging away and you will find your success....Your success is based on the work YOU put in....

I have made some upgrades since living here, fully renovated the bathroom and laundry room, upgraded appliances, added a tankless hot water heater, and replaced all galv. pipe with pex.

@Antonio ResendizI analyze based on the return that we are getting with our investors' money. - Annualized ROIFor Rentals that we hold in our portfolio, that were perhaps once BRRRRs, I analyze based on ROE - Return on EquityI used this equation to back into my maximum allowable offer (MAO): ARV - Rehab Costs - Holding Costs - Purchase & Sale Costs - Desired Profit as a percentage of ARV = MAO

@Joshua Logan I'm out of the Mankato area, we invest in Section8 apartment buildings (Project Based HUD properties).

Consider consulting with a real estate professional or financial advisor to help make an informed decision based on your individual circumstances and goals. 

Establish the value based on your own market analysis.Your property is a rental once it is placed in service - typically the date it is advertised as available.Check your home owners insurance policy and make sure it covers rental operations - I expect it does not.

At this stage, based on your post, you would wait until its listed then contact the listing agent to purchase it.

I currently live in Charleston and am a fishing guide by trade so I have a good base understanding of how water moves through salt marsh areas, but it'd make me feel a lot better about this purchase if I could have an expert look at it.