If the city ever shows up (either called by a neighbor, or checking out another permit project on your property) you could get red-flagged and shut down.

Property is a 3bed, 2ba SFH (Cedar Rapids, IA) listed for $96k (was purchased in March '24 for $90k...looking into that)Market rent is $1,300 (could nudge up $50 maybe).

Most of the vouchers in my area don't cover the full amount of rent, so the tenant has to make up the difference themselves.

I am looking for some insight on an interesting property that has come up for auction near me.

Junked it out, cleaned up landscaping, drywall repair, texture, paint, new interior doors and trim, new waterheater, new floors in kitchen. some new floors, countertops, new roof, painting cabinets.

The tank had to be inspected and cleaned as oil dries in an empty tank and clog the pipes and furnace.We had the tank auto refilled, the oil company sends me the bill, and I in turn bill the tenant.

I purchased rentals that are all clean BRRRRs and meet the 1% rule then grew my portfolio to over seven figures.

If the value goes way up in 5 years you lose.

I thought that was a good question so I am asking you all.Does anyone have a good idea as to how we get paid for setting this up and what structure needs to be in place for that to happen?

The new owner had it checked out and it ended up being the septic line from the tank to the house was never done 🙄.