It’s a beautifully renovated 3 bed 2 bath 1st floor unit that I am trying to rent BUTTTT The house next door is burnt down with graffiti next to it.

For instance, My first purchase was a duplex in a nice neighborhood of Dover at foreclosure; now that it is newly refurbished and fully rented, it’s a great asset, but selling at current numbers may not be enough of a return to warrant it (I perhaps over renovated) However, positioning it for a longer term hold is very suitable because of its great cashflow.

Zestimate is $315K.Cash flow won't be great for me since I will be taking an expensive loan at 7%.Expenses would be: mortgage+taxes+home insurance= $1300Management fee of $100 will be waived for the first year.There are renters in the place with a contract till June 2019 and they pay $1635.What I'm considering is that:Get the place, have little to no cash flow and when the renters contract ends in June 2019 have them out and renovate the place and:1. rent it out for more or2. if the market is higher/ home value is higher after renovation, sell for a profit.What do you think?

I want to start investing in multi-family and then transition to larger multi-families.

The properties we find tend to need updating or major renovation.

Once you have a larger portfolio, turn it over to a professional property manager.

Anyway, the gist of the loan will offer you up to a max of $35,000 for renovation costs atop of the purchase price. 

I have actually purchased it already and just finished the renovation.

I purchased a recently renovated duplex on the golf course in town in the fall of '16. 

We do have a ton of larger multi family units, but duplexes are scattered throughout the city and also one person can own one side while another person can own the other.