You’re in a Strong Starting Position — You Just Feel “Illiquid”You already have several things going for you:Home equity: Roughly ~$140K in unrealized equity ($235K value – $90K loan).Pension & retirement savings: Long-term financial safety net.Stable W2 income + supplemental job: Consistency lenders like.Below-market mortgage rate (4.25%) on your primary — a great asset in today’s high-rate environment.The challenge isn’t wealth, it’s liquidity — you’re “asset rich, cash flow tight.”

For safety, perform immediate courtesy check-ins with neighbors and your PM, and enforce your lease criteria if the tenant falsified info.

Similar to a home inspection, they go in and check what needs to be fixed on the property per code/safety, then they'll also ask what you'd like to renovate/upgrade. 

Great question - figuring out ARV can definitely be tricky, especially when you’re trying to prioritize projects and see what will move the needle most.There are some general rules of thumb (like Ricardo mentioned), but ARV really comes down to your local market and recent comparable sales.

Set clear lanes now: respond fast to life‑safety and habitability issues, batch non‑urgent cosmetic items, and push back on tenant‑caused or convenience requests.

Section 8 doesn’t technically require a closet for a room to qualify as a bedroom, it’s more about meeting local building codes and safety standards like proper egress (a window big enough for escape) and a door for privacy.

These loans have been a good fit for investors focused on portfolio growth since approval is based on the property’s cash flow rather than personal income.The loan type has to match to  client’s goals as some prioritize cash flow and flexibility with DSCR, while others start with conventional for better rates before transitioning.

In most cases you can build a new row house on a 15-foot-wide lot in Philadelphia if a 15 foot wide house was built on this lot prior to being demolished due to safety reasons.

For your own safety and to convince a lender, don’t buy this property until you can clearly explain why.

Rule of thumb: if life-safety, code, or permits are involved, hire the contractor; if it’s cosmetics to get rent-ready fast, a reliable handyman is fine.