Which then in turn consistently having 5 star reviews can increase your nightly rate.

That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

For your $2M property, a cost segregation study estimates $316K in first-year depreciation (compared to $28K with standard straight-line), potentially saving ~$117K in taxes at a 37% rate.

Not as many compared to coastal towns after a Hurricane, but still some.

As for NY which is from what I see a very complicated state compared to Trustee sale states the thing to do and the ONLY thing to do..

The core 4 consists of a realtor, contractor, property manager, and a lender.

To decide, consider your ultimate goal, manage more tenants, and analyze potential fourplex properties to compare their returns.

You could be in an expensive market, like LA, but you inherited a property or you got a killer wholesale deal or subject to and the numbers could be very attractive compared to buying off the MLS for full market price in the same market.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

If you have a solid ARV AND a great GC / team that you trust to do good work, consistently, and can stick to the timeline planned, even with hard money you will still make money at 75 or 80%, albeit a little less than at 70%.