I've done all kinds of partnership structures, from 50/50 partnerships, with all hands on deck, to 20/80 partnerships where the 20% partner provided all of the capital but absolutely nothing else. 

They are 1600 sf ranches with walkouts basements 3/2, covered deck, granite, tray ceilings/archways, etc. 

Plus, from what I have seen, many of those cheaper three deckers have problems with asbestos, decks that aren’t up to code, electrical that needs to be redone etc.  

I have done a lot of remodeling through out the house including updating kitchen, adding wainscoting to dining room, added a 900 sqft deck, updated bathrooms, updated light fixtures throughout.

Bedrooms:  Size appropriate for size of house, any 'nested'-go through one to get to another- closet sizes and condition of closetSMELLY:  any scent of mold, pets, pet pee, smoking, smoking pot, etc.Fireplace, check chimney from outside for condition and inside for conditionpool, check for condition, check deck and all attachments-heater? 

If (when) I have a condo or chalet in Gatlinburg I will deck it out modern all the way.

full gut, complete remodel from top to bottom, new kitchen, refinished floors, lots, deck, etc...

From my initial research, it looks like today's rate for new decks is $35/sqft, which puts a deck replacement on this property between $9k-$12k.

Peoples front steps are falling apart rear decks are falling apart, others have leaks in their roofs too.

Since this was my first primary residence, I didn't consider the cash-flow potential, however it was a top-floor, water view condo with it's own private roof-top deck, so I felt it had intrinsic value.