Yesterday while at a local REI group meet up, one of the guys was talking about finding The Syracuse Landlord Property Improvement Loan Program.

Going with a local company can take some of the tasks off your shoulders and make it truly passive, but it likely will not perform even close to what you could do by listing it yourself on AirBnB and VRBO (or EVOLVE which does both).

Use lead certified contractors if doing any work/repairs/improvements. 

Sell "as is" and they can make any improvements they want.Or, you can sell on a lease option same terms but with a 3 year option agreement.Or. you can rent the units out if zoning doesn't allow selling each side.

You want a bunch of security behind the note so if the buyer runs the property into the ground and it becomes semi or non-performing you have some options and recourse.Now if I was on the buyer side no way would I agree to such terms from the seller unless partially on some of them if the property was way under market.You have to find a balance where the buyer is happy and you are happy doing the deal.

-If your credit is too low, banks won't generally lend to you, so you'll want to figure this out and improve your credit if need be.

You mentioned capital improvements, would this be similar to an upgrade rather than fixing AC or replacing water heater etc?

Knowing where you want to go begins with knowing where you are, and with that in mind I reached out to a national bank just to see what kind of mortgage I could qualify for and how I would best improve my current situation in case I needed to use conventional financing.My credit score is mid-700s, about $15k in consumer debt (which is coming down).

When asked he says that this other person is not living there but we have been over in his apartment (with permission) 5 times in the past week because of various work that needs to be performed and this other person is there every time we have been there to do work even when the tenant is not there.

You basically assign your rights to somebody else (investor) and they perform on the contract you negotiated.