We just closed in late Dec so the financials are a work in progress but we’re projecting and tracking closely to a 55% expense ratio and should have about 11% CoC in year one through the renovation period as we get more renovated units online. 

I would also look at suing them for the cost / expense to finish the job. 3.

@Breeya Johnson the entire market currently is in a cooling cycle with price declines and inflated expenses like property taxes and insurance.

I once rented a 5bed/3bath in two days, just a week before Christmas when the ground was covered with snow and ice.Sitting vacant in the winter increases the risk of frozen pipes or other expensive problems.

That is clever Pat, Hard Money is just so expensive that I have been reticent.

Not bad, but a lot of work and hard to find a specific expense if I can't remember it when I'm categorizing the expense a week later in RH or something.  

You cannot get any meaningful answers until you specify what is your "side gig", how much money it's going to bring and how much expenses it's going to incur, and what kind of expenses.And, as a rule of thumb, unless you clear $50k after all expenses, you probably will not benefit from any entities tax-wise. 

I am sure it is not anywhere near that expensive.

They focused on renovations that appeal universally.. think updated kitchens and bathrooms - and kept meticulous records of their expenses.

Here are the details of the property:Property Overview:Location: Texas2 lots, 2 warehouse buildingsFinancials:Mortgage: $4,897/month (balance: $530,000)Insurance: $830/monthProperty Tax: $1,800/monthBuilding 1:1 tenantRent: $7,570/month12,000 square feetBuilding 2:3 tenantsTenant 1: $2,850/month (5,000 square feet)Tenant 2: $1,793/month (2,500 square feet)Tenant 3: $895/month (1,250 square feet)The property was appraised for $2,200,000 three years ago.Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.Would it make sense to:Sell the property outright and invest in higher cash-flow opportunities?