Its 1200 sq. ft.Purchase price: 135kI put 20% down that I had from previous stock investments and some savings so about 27kMy "rehab" consisted of painting, yardwork, replacing toilet seats and light switches. 

What do you guys think of this warning? 

Can anyone shed light on what this means?

Rents are about $1200 for a two bedroomWith a mortgage I can pay on my own, even if I lose both tenants, so up to $2000 per month in total expensesI want to ideally find the ugly duck in a cluster of nicer complexes, so, a property that is livable, but where I can add value with some light of medium remodeling and beautification/upgrades.

Thank you, Tim.I was warned by both my inspector and the mold specialist to make sure that the owner does the repair work before closing.

Inspection by Sec 8 to pass a unit for them can sometimes be like jumping thru hoops.On reinspection for next year if the same person is living there YOU go in and do a preinspection, you bring light bulbs, exterior light bulbs, you turn on each light to make sure they function that is part of the unit.. not lamps.. they will fail a unit for a burnt out bulb.

Some buildings have a fifth meter for the owner if there are items like exterior parking lights or other things that aren't tenant specific for the owner to cover.

I agree with the horizontal siding.. light/earthy colors will make it look great (keep the rock bottom).  

Hi All,Posting this in light of the BP article sent out today "An FHA-Financed Duplex is an Ideal First Investment Property: Here’s Why"So I already have one duplex. 

I looked up the zoning and it is zoned light industrial.