My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Our goal is to be able to use either some type of software or spreadsheets to continue to build off of and help dial in our costs as we begin to hire more contractors for our team.

In doing so, bear in mind that the cost and admin of a corporation is higher and that the tax treatment is different:1.

You have to include the cost of your time and the work, especially on a "scary house" is daunting indeed. 

Purchase price: $15,000 Cash invested: $25,000 Sub to deal - paid the seller and wholesaler $15,000 + $7500 closing costs to assume $84,000 mortgage with a monthly PITI of $575.

It hurts the tenants ability to find another rental, nobody wins, and it takes forever costing you money. 

And cost is not coming down.

Whether you're curious about cost-effective renovations, navigating building codes, or optimizing a property's layout, feel free to reach out.