I had to deal with a lot more issues than I've ever had in non-S8 rentals like extensive property damage and also bed bugs, roaches, drain lines completely clogged up by grease (I learned what sewer worms are, look it up), spray paint art on walls and food on ceilings, noise complaints, police at the property, removing dead bodies, etc.  4.

I'm in the process of renovating a residence into a ten bed RAL facility.

He lived on the premises and acted as the cleaner, manager, tough guy- because bunk bed renters in that area tended to be some rather tough types.

Purchase price: $151,000 Cash invested: $60,000 Last year I bought my first investment property, a duplex with 2 bed/ 1 bath in each unit.

If there are no leases in place, you will have to use rental comps for the same beds/baths in other multifamily units nearby in the last 3-6 months to verify.

(based on beds and baths, not sqft).  

So I rolled and edged a 1,800 sqft 3 bed 2 bath in a day.

Pursuing a value add opportunity where we can renovate and potentially add beds or baths would be great to force appreciation. 

I'm looking to rent it out and rents in the area are $2,400-2,500/mo for a 3-bed/2-bath property like mine, especially on a waterway channel.The prior valuations have been $1.25 million in total but I've found from one lender that a valuation on a 6% cap rate may be the best way to give me the money I need to finish the project.

My current rental is a 3 bed 2 bath with an additional office room( donot have a closet) 1950 sq ft.