JWB spent $2,300 on renovations prior to you moving into the home. 

A turnkey property is already renovated and ready to rent, so you don’t have to worry about repairs and can start earning right away.

Since the tenant has been there a long time your market rent will be less than market rent for a newly renovated place which should be a consideration of the tenants.

,Buying, renovating, and selling is a great strategy, but here are a few things to consider:Start with the Numbers: Make sure you know your ARV (After Repair Value) and work backward to calculate your budget, including purchase, renovation, holding, and selling costs.Financing Blindspots: Even if you’re buying in cash, plan for potential delays or overruns in renovation costs.

Furthermore, since these are turnkey companies and praise themselves on their renovations, the B class turnkey is using only 2% of rent (which averages around $1500/pm) for maintenance, and the C Class turnkey is using 7.5% of rent (avg about $1000/pm) in their calculations.

I would echo what others have said - 100% start locally because you need to gain an appreciation for what it means to be an investor, understand the lifecycle of a deal and be on the ground to observe what's going on with renovations etc.

The top unit and rest of the townhouse is completely unliveable without renovation, the only liveable spaces are the two studio apartments that the tenants live in.

I'd sell if I were you. 1) I don't like HOAs and certainly not for STR or MTR 2) the numbers don't make sense for you to invest in a big kitchen/bath renovation 3) it doesn't look like it's appreciating very well.

All are on separate 800 square foot floors, with front and back door egress, well maintained and gut renovations were completed in 2019.      

He kept in touch with local contractors, and one tipped him off about a homeowner who ran out of funds mid-renovation.