RE: Sometimes Doing What Everyone Else Says is Crazy is the Best Option in Real Estate.
Wow. To call that house a fixer-upper would be generous. Well done!
My wife and I bought a property in Nashville in 2007 to use as a rental investment, and it was someone else's flip. We had no idea what we were doing and on paper, at one point, it looked like we had lost $40k. Thankfully she convinced me to hang on and now we've got great tenants (after so much drama) and a great property manager. We've had plenty of interesting moments including a fire with $50k in damages. That turned out being a net positive for us though as our insurance company really took care of us and our property manager owned the rehab project to stretch that money amazingly well. Now, on paper, we're doing quite well with it. Someday we may sell it, but for now it's cash-positive for us.
Sounds like a winning investment to me. If I would have had a fire with my tenant I think I would have had a mental breakdown. I actually lived in the house without insurance to save money for two years. We owned it outright so we could swing it. It still made me nervous!
I would love to buy some rentals with my Crypto profits in the future.