Why not get the work done so you can enjoy some of the renovation OR wait til the last 3-4 months and then go ALL IN on the renovation so you don't have the carry costs of the reno for the first 15 months or so...this assumes the house is liveable and you are okay with hit how it is.

Thanks Mohammed, no focusing on the cash flow is good if you have money to carry you, but I dont have money to carry me. 

**Lower Risk**: The buy and hold approach carries lower risk compared to the BRRRR strategy, 5.

If you know the person really well, know that they know real estate, that is worth more than gold.

If you are okay with someone painting over your original woodwork (even though the lease says they can't) or ruining your marble countertops when they dye their hair (true stories) then you may be emotionally hardened enough to rent your original home that you have lovingly designed.Consider, also that at times you will have to carry two large mortgage payments and decide if you are willing to do that.

Typically, when evaluating and underwriting deals, we do not project a 100% occupancy rate to avoid overly optimistic forecasts that might result in negative carry post-acquisition.

Some GC's are only as good as their sub's and other's are better than their sub's and are worth their weight in gold - it all depends.I've don't most of my projects with sub's for many years and have learned to recognize many things that may need more attention, etc.

What sort of insurance does the manager carry to make sure she can make you whole should things go wrong?

This is gold & explains it! 

The challenge for present day investors is with elevated mortgage rates and record high housing prices, the carrying costs and incentive to invest now can be restrictive.