That sounds like massive renos (ie new floors, painting...).Yes as you acquire more properties, the chances of having multiple vacancies (no matter how leases are staggered) increases.

Quote from @Patricia Steiner: Price cheaper with cash sale? 

They are two separate sales agreements. 

I found a nice established one for sale.

All the major PMS platforms have hundreds of reviews on there and you can get a great sense of what will and won't work for you without having to sit through 5 or 10 sales demos.I discovered both OwnerRez (for our STR) and ThinkReservations (for our hotel) on Capterra.

There aren't many lake front properties in that area for sale, but there are a number that are in the 800k range.

Investors can expect an unprecedented projected profit of “32.89% cash flow, 48% return on sale, total return 81.38%,” (28:12).

They're really securities sales disguised as loans, since the undisclosed convertible notes become a share of securities for investors in the secondary market under the promulgated laws of the United States Securitie Exchange Commision (S.E.C.).

For those interested, a combination of mortgages with no “due on sale” clause, mortgage companies loose due diligence, and title insurers willingness to “turn a blind eye” to practices that wouldn’t pass scrutiny now, resulted in tactics like the “second mortgage crank” which not only allowed investors to purchase properties with no money out of pocket but allowed investors to actually walk away from closing with “cash in their pocket”.

To maximize your chances of success, recommend sharing that and the percent increase in taxes & ins with tenant and asking them what they think a fair increase is.- If they say $0-$50, you'll have to get rid of them at end of current lease.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.