Asking price is about $209,000.Here’s what I’ve noticed so far:Foundation work: definitely needs to be inspected, most likely repaired.AC: 4 new units, 2 fairly new, 1 old.Roof: needs inspection.Exterior: trees need to be removed, new windows needed, new front porch, repainting, trim, fixing wood rot.Parking/Access: back parking lot probably needs to be redone, back stairs may need to be replaced.Financials:Cash flow is projected around $30,000/year.Cash return sits in the 12–14% range based on my analysis.Here’s my hesitation: a big commercial real estate guy I spoke to locally told me this kind of property would turn me into a “slumlord” and that I shouldn’t touch it.On the flip side, the cash flow and return numbers are attractive—especially at this price point.

Personally, I would do requests for items I would be doing anyway for tenants who are co-operative, clean and you want to keep and give notice or let leases run out for the un-cooperative ones. 

That’s where opportunities tend to show up.I’ve also had a noticeable increase in people reaching out for comps.

I've noticed there are 2 distinct avatars in the community.

Hey everyone, I just stopped by a SFH rental of ours and noticed that one of the tenant's sons is sleeping in the basement which doesn't have an egress window.

And if it doesn't, you need to either increase your income or decrease your spending. 

I’ve also noticed more focus on documentation and tracking from day one, especially for those aiming for REP status down the road having clean records makes a big difference if you’re planning to offset income later. 

Even at the final walk through, I noticed a missing section of gutter and downspout that I had asked to be fixed in a sale addendum.

We maintain open communication and address issues before they turn into notices.

Use that.Less explanation is safer here.Issue a standard adverse action notice.If credit was run, send the adverse action notice as required.