I never go off of a flat percentage on anything, I analyze the costs to get to a specific return I target and analyze the risk that is involved. 70% may be an initial metric to see if it is even worth pursuing, but every deal should be evaluated independently based on costs, time and risk involved.

It's worth it. 

This demographic is projected to keep increasing over time, so I would do whatever you can to hold onto this property (ie cash flow well).Furnishing 700 sqft with PB or West Elm (you and my wife would get along great, Bonnie) won't be price-prohibitive and well worth the cost.

@Kayla M. sadly as other have said, often out of state investors are paying more than is worth, and it can be tough to get back out of a deal.

The license (if you aren't going to use it to sell) is worth it for access to the MLS and access to dumps the first day they on the market.

I know pricing tools can be frustrating, but they might be worth another shot.

It takes a lot of practice and sucks in the beginning, but if you stick with it long enough and keep improving it will be worth it

If you keep rolling these approaches you should be worth $1mm in 5 years. 

As sponsor you have a VERIFIABLE track record of success in same or at least similar investments 2.

That guesthouse has been here since the 50’ as it’s on record, but has no permits or CofO  If I permit it as an ADU, I can no longer short term rent it.