I just finished up doing wood floors on a house that had three separate additions put on throughout the years.

I recently (January) moved out of Lake of the Woods in Orange and converted that property to a rental (my first).

Also, the fence surrounding the back yard is made from wire and wood with ivy taking over most of the back end.

I was considering ripping out the carpet (has some tough stains), installing new vinyl wood floors, repainting the walls, do a thorough deep cleaning, and converting the loft room back into a bedroom (putting up the top half of the wall and putting a door in), and then finally rent out the townhouse.

@Chris Wood I would not personally do quarterly inspections as that just seems like an awful lot of inspecting.

When I got pre-approved and was shown numbers on the loan, there was an Up front Mortgage Insurance Premium, which all the FHA loans will have if you are not putting down 20%.

(For context, the trees are what is most valuable about this property; out here in the "Piney Woods", anyone that wanted to build on it would value those trees to keep their privacy.

(For context, the trees are what is most valuable about this property; out here in the "Piney Woods", anyone that wanted to build on it would value those trees to keep their privacy.

Either way, you'll want to make sure that your numbers account for Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP) charged on loans with the borrower putting down less than 20%.  

The discussion is open to all ideas and materials, but so far I've learned to paint with mildew primer in the bathrooms followed with semi-gloss paint, go with American Standard Cadet 3 style toilets, install commercial grid drains, still on the fence about high end laminate flooring or wood style tile, etc. etc.