It is already renovated, tenant-occupied (or ready for tenants), and generating income from day one.

@Chris Kay it depends what level of renovation you are doing!

With the right renovations, we saw it as an ideal project to maximize returns in a growing market, especially with our experienced partner, Seth Choate, by our side.

Things that AI won’t know:Market rent as isMarket rent renovatedCost to renovateSpeed at which renovations can occurLease up rate once renovatedInvestors learn all of this by doing work in their market.

In the pitch I include just a couple of my projects from the last year as a reference to my experience. 

I lived in and renovated or renovated and rented.

I agree with John, we are seeing renovation costs of $150k- $200k for a basement unit and $250k + for a coach house. 

Properties like the Michigan complex offer a unique entry point, combining cash flow and significant upside potential.Immediate Cash FlowThis particular property is projected to deliver 6% annual cash flow from day one, already exceeding the yield of Treasuries.Value-Add RenovationsThe property includes hundreds of units that can be upgraded to Class A finishes, justifying rent increases.

Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You'll either need to write and mail a check or call and pay with a card if they are set up for that.Is it for a contractor who is doing a renovation that will be 30k?