It's a property that with the most direct comps that are available, is probably an ARV of $250k, however, most of those comps aren't fully renovated, and are more plain/boring homes, while this home is a 100+ year old, historic Victorian that I believe can sell for quite a bit higher potentially, but I can't risk getting into it making that assumption. 

The small town also has a weekend/seasonal draw for out-door recreation and historical small tourist events, so there is some potential for use as an AirBnB. 

@Jessica Jones GreenFor investors there are no grant programs unless you are doing something specific with a jurisdiction like historical work or deed restricting units as affordable.

They can't get a lake-front, historic cabin from Motel 6.

Appreciation in Travis county is right about 5% on average over a 63 year historical view.

Interest rates are historically low so start looking today!

I’m under contract to buy a great house that’s in a very desirable neighborhood, part of the Historic District in Gastonia, NC.

@Ben Skove This may have been a property specific situation because I was dealing with a historic building with years of defaults and VBML - but the inspector I was dealing with discussed 'dropping' those for me if I wrote a proposal.

W/o knowing the details of your deal, dealing with dcra and spending well over 6 figures to add a bedroom hardly seems worth it, if you made a mistake you may have to eat a loss, but don’t compound your issues, I only stick to projects that don’t invoke architectural permits in dc but I’ve heard it can easily run 9 month even more if your in an historic district just to get permits.

I am remote and he lives in Phoenix.It is a 3br, 2ba in Historical district in Phoenix.