PS; I never got 1 single letter or call to tell me my account was past due or about to be canceled for lack of payment due to their screw up. 

I’ve been learning as much as possible for the past 6 months and I’m ready to get started.

However, we wanted to make sure our basement fit these requirements to make it a 3rd bedroom.1.402.1 Habitable Spaces2.403.1 Habitable Spaces3.404.2 min room widths4.404.3 Min ceiling heights5.404.4.5 Other requirements6.404.4 Bedroom and living room requirementsFrom the picturesthe basement window is greater than 44inches from the ground on the inside.

Most turnkey operators seem to recommend min $100k purchase price and $800/mo. rent to avoid taking on properties with deferred maintenance filled with tenants that are more trouble than they’re worth.

Didn't see any other examples of properties in there thread past that though. 

I took over the payments for the past 10 years.

I just met a guy this past week at a REIA meeting that finances short term rentals. 

I am local to the area for the past 30 years and a current investor and Property Manager.

That said, here's my short input: Richmond has generally been a crappy city in the past (note: not the surrounding areas), however they've put a lot of effort into improving over the past 15 or so years and it's apparently a happening city.

This is 12% Cash on Cash. 1.6 DCR (Debt coverage ratio) and min 7% Cap Rate.