And while that depreciation may be disguised by inflation, or area price increases, money does need to be spend as systems such as HVAC need replacement, roofs need to be replaced, and capital expenditures such as kitchen remodeling are needed for the asset to be rented at a profitable rental rate.

There is also a 1x per month count of kitchen items conducted by facilities manager and restock of cutlery, plates, cups etc.

Now if I remodel the kitchen, bathrooms, doors, windows and some other stuff I could probably rent it out for $650-$700, increasing my cash flow, specially when I move out.

There are two kitchens as well.

Purchase price: $116,000 Cash invested: $27,000 Sale price: $187,500 Replaced kitchen, updated bathroom, drywall repairs, paint and flooring.

New metal roof, painted the interior and exterior, sanded and painted the kitchen cabinets, and installed a new furnace.

Investment Info:Single-family residence buy & hold investment in North Little Rock. 2021: new metal roof, painted the interior and exterior, sanded and painted the kitchen cabinets, and installed a new furnace.2024: New new vinyl plank flooring and carpet were installed throughout the home, all of the electrical outlets were replaced, and the A/C condenser and compressor were replaced.This property is currently listed for sale!

In order to minimize the potential for mold growth in the property, Resident(s) must: *Keep Premises clean, especially the kitchen, bathroom(s), carpets and floors.

If you aren't sure if it is a legal suite, find out if permits were pulled (or needed) when the kitchen was put in.

I've digested a lot of knowledge and practiced running numbers over the past few months to the point where I feel well equipped (enough) to take the plunge.