If you're going to be a landlord, decide if you've got the appetite to remodel distressed houses to rent or if you want something turnkey.  

Our little town has 5K inhabitants yet has 5 "white table cloth" restaurants, including one which made the "top 10 desserts" list in Bon Appetit magazine this year.We have an 8 screen movie theatre, although a lot of movies that I want to see I have to drive to Austin, or wait for Netflix.

I honestly don’t know the answer to that question but I suspect the appetite isn’t as strong for value-adds from institutional money?

It is incumbent upon owners to continuously monitor the condition of their properties and addressing various safety issues as they arise:Loose railing, rotting steps Improper ventilation Inadequate fire suppression Electrical problems Sanitation/sewage problemsWater quality problems Pest infestations - wasp nests etc.If you have a claim and you are found by court to be grossly negligent, your insurance will deny the claim and you will be sued for everything you own.

All I can tell you is that we found a builder who built our 4 bed /5.5 bath 3500 sqft home with a fire suppression system in 10 months in 2021. 

Fire suppression, fire walls needed, Sewer/Water/bathrooms/electical breakout, etc  Determine cost effectiveness.  

My risk appetite is not great, so if it's not a name I won't look at it.

@Kyle Hipp Hit it right on the money, it really depends on what the county says.So for example, out in Philadelphia, for a 3+ unit NOO I have to have a fire suppression system installed. 

Now, I can do a lot of things with the space, however, as it is dry, has a loading dock, is at least temperature controlled (might be climate controlled as the building has been used for document storage for a decade), and has a dry fire suppression system installed and working.

Once the 6 months is up  you can try and suppress the title giving you a clear title.