Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

Yes, I'm a Property Manager in the greater Phoenix area.We are a mid-size property manager, large enough to have great tools and support but small enough to provide personal service.

You can always leverage rentals within their ability to service the debt. 

I look for cashflow to service the debt, repairs, cap ex, taxes, and insurance while the equity grows, my taxes are decreased, and rents are increased to make more cashflow. 

The guests have a credit card on file and your policy should allow you to charge for damages or excessive cleaning.

Furnishings that are easy to clean, along with amenities like high-speed internet and pet-friendly options, go a long way.

OP it’s a good idea as long as you tie the investment to the military or civil service market.  

When they move out, I can access their account to charge for cleaning and repairs.

I will take on all the risk whilst always making sure the property is in a selling condition at all times and professionally cleaned and maintained, and if there's any damages my insurance would cover it.

It's a lease, not one of those clean energy assessment lien crap things.