Overall we have vastly more “good” tenants, and the law allows you to get rid of the bad tenants and maintain a desirable place to live for the good tenants who you want to keep.High-maintenance <=> High-Return: Those prior two points drive what I meant when I said the cash flows and NOI should be about double what they are on a “vanilla” MF (multi-family) purchase at the same price point, but it can be a high-maintenance proposition to manage the screening on the front end, the day-to-day management issues, the more frequent turnover and vacancies, and the frequency of needed court filings to get the keys back from a tenant when somebody is not being a good neighbor to your other tenants in the lodging house.Bottom line: We think we were right on point five years ago when we identified that SROs fill a critical niche that is in extremely high demand.

It might give you an idea of the desirability/rental rate for a unit with this feature.Good Luck!

It makes sense, most have no credit, no balance sheet yet  possess this desire to own real estate with no proper direction or understanding of the business  and this is the unfortunate outcome. 

The starting point is knowing what emotional drivers (desires, fears, hopes) lead people to spend money on a unit such as yours.

Disclosure: my firm charges upfront fees. 

To thrive in real estate investing, you must maintain a firm grip on your finances.

To thrive in real estate investing, you must maintain a firm grip on your finances.

If so, what was your experience with Prosper Firm? 

So we had to be firm.

Is it enough to just visit a couple time to get validation on desired location or is a 6-12 month stay needed?