The cost will go up substantially if you decide to expand the building footprint and roof.

Effective management is key to maintaining and increasing the value of your investment.Step 7: Building a PortfolioAs you gain experience, consider diversifying your investment portfolio across different types of properties and markets to spread risk and increase potential returns.Mitigating Risks in Real Estate InvestmentWhile real estate offers substantial rewards, it's not without its risks.

First, even an STR that isn't rental arbitrage may in some cases be reported on a Schedule C rather than a Schedule E depending on whether you provide "substantial service".In the case of rental arbitrage, I believe the best and arguably only acceptable choice is Schedule C. 

I think the best deals will be had by people with good contractors that can handle the substantial rehabs. 

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

Multiple, billion dollar companies are investing substantial amounts of money into our area, such as Intel, Google, and Amazon.

A full family of rats had actually moved in, taking refuge in the cupboards that were still stocked with old food.Has any other landlord here ever had to deal with a renovation like this?

Sell it for a substantial loss: maybe 80k?

Let me know what cities and areas you're considering as you dial things in. Take

It is substantially less costly than a property manager.