Hi Young,
An income/investment property is one that you would buy to rent out to someone else. It can be a single family home, a townhouse or a condominium. A single family home is a stand-alone structure that one family lives in as opposed to a townhouse that is attached to other homes.
A property that requires more money for repairs is referred to as a "fixer-upper" or "handyman special."
If you send me the ad that you saw I can help you discern what the situation is for that particular property. My email address is debra@TalleyHurstHomes.com.
Regards,
Debra Talley, ABR, e-PRO
Broker Associate
RE/MAX Preferred Properties
Vienna, VA 22180
703-408-3266
debra@TalleyHurstHomes.com - Thu Sep 17 2009, 11:58