Most of the income properties that cross my desk are very old and ugly.

Close on the property before I resell it.Not only do these things provide liability protection (my wife is licensed and I don't want her to ever be accused of misleading a seller in terms of value of their property), but by closing on the deal, I have the ability to present it in the best light to the widest range of potential buyers (listing on the MLS, and having the property vacant/clean before potential buyers preview it).While there's the extra cost of the second closing, this is typically made up for in a higher resale price. 

Essentially renters feel better about their present financial circumstances than they did in the past and have come to view renting in a more favorable light than the prospect of home ownership.

After they leave I will need to do a light rehab, so I'll probably shoot for starting after winter. 

I've done this in numerous common areas (hallways/stairwells/etc) for the updating of lighting & for fire alarm devices.

@David Light Being a foreign national a few limitations come into the picture.

After all my research I have come to 1 realization, Im 26, I have under 200k in the bank and I have no experience in multi family deals or managing but it's what I really wanna do  I live in Clearwater/Saint Petersburg FLORIDA and my goal is to own my first big multi family by the time I am 30, however I cant find a true guiding light to learn this business.  

Most of Indy is covered by two utility providers, Indianapolis Power & Light(electric) and Citizens Energy Group(Gas, Water, and Sewer).

Not investing so my FB friends will say that I am a good guy until I have to evict one of my homeless tenants. ( Where is the profit)You might do so, only as a tool to present yourself in a better community light, and have a lot of taxes that need to be offset.

Currently there is a non-conforming bedroom along with a total of  1,000sqft of livable fully  finished and well lit from natural light living space, including a bathroom and laundry — and a kitchenette area.