Life is Good! Make money here and bet on the train. Buy and hold opportunity for a savvy investor. Don't overthink it...Keep it simple to make these units rent ready and keep your downside protection built in. Hold this property for 3 years or so and see how the train situation plays out. The train station is literally down the street, you can see it in the drone shots. So what do you do in 3 years? If the market is booming you have options...condo conversion...refresh unit 1 and make it a top end resale...cash out your equity to buy something else...logic would dictate that rents should increase this close to the train. Due to FHA 90 day rule and current property condition...this will not pass FHA. There are other programs available that make this property attractive with a low down payment. Again, don't overthink it :) keep it simple and make money.
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