If you can get a better deal on the home due to age its a fine and if you need financing banks do not judge year built. 

I've got plenty of experience in both site built and mod construction. 

Quite a bit of equity built up.

Yes it's a huge problem.You should fix this correctly now.Open the walls and put in proper sound reducing insulation.

Hi Jeffrey,It sounds like you're in a great position with your rental portfolio and cash savings, and I admire your commitment to keeping your investments!

That's a great position to be in. 

Thanks in AdvanceHey Gash, From my experience in purchasing rentals in the Owens Cross Roads area, I'd double check the rents and think about lowering(depending on your strategy).

If you learn how to use Hard Money loans properly and how to find good deals in need of rehab, there are plenty of areas of the country where you could buy 3-4 rent properties in solid middle class areas with good cashflow.

There's some mis-information and mis-understanding of AP, the process and it's effect in this thread.

I was a realtor in Katy for 5 years but still invest there in Houston.