So i know there are major leaks in the structure and I plan to re-pipe most of it.city building and permits mgr advised he will reach out to me in a couple of days and advise what they have on the property.

Does either currently have a PM company, or would you need to find one (a major factor in an out of state investment).

The situation- property will cost ~750K, wont need major rehab, would pay any rehab in cash.- both partners good credit-  want to have 30 year fixed amort financing, plan to buy and hold- cash down payment of 25 or 30% is avail - no experience in prop mgt or RE investing, will outsource prop mgt- One partner has W-2 corp job, other is taking some time off but doing part time consulting. 

I'm looking to do a major rehab on a rental property that has all hardwood floors and the walls will be painted Agreeable Gray.

Ask anyone that has started their own business, 18 hour days, missed kids sports and school plays.

Exit off major highways, and close to shops like Costco, whole foods, target, and home depot).

And then of course there is the BP mantra of cash flow is everything and investing for appreciation is for suckers.. and that frankly is the majority opinion on this site..

The majority of tenants with vouchers know how to game the system in order to continue receiving voucher assistance or increase their voucher contributions instead of using it as a leg up to move on once they have successfully increased their personal income through employment, education and training, which the point of the program.

The most important thing is to know what the bylaws has to say.But I've been warned about buying into situations where an investor owns a major portion.

I am very hands off and leave the majority of the work to my property managers.