It was a great experience…high quality renter, no maintenance on our part, and she paid it off a year earlier than anticipated.It was too long a term, though, and did not account for appreciation, especially during 2022-2023.We have heard a few podcasts on the rent to own strategy, and are very interested.

Although my cost of capital was cheap (2.5% 30yr fixed), the increased STR supply resulted in a more hands-on approach by me (better marketing, improving the quality of my check-in hose, services, etc) and this wasn't turning out to be as 'passive' as I would have liked (I've been managing my own LTRs for close to a decade, so perhaps I'm spoiled).

However, I am now on par with the other popular amenities for the high-performing properties .. examples include: outdoor space w/ seating, firepit, grill, games, walking distance to nightlife, retro video game, thoughtful mural art, quality pictures & listing details.My target guest group is a small group of friends or a family that values walkability to entertainment & nightlife and a very short drive to major Pittsburgh attractions.

Ensure that your platform profiles have high-quality pictures, compelling bios, lead magnets (e.g., free guides, eBooks), and clear calls to action.

Also we “Pruned” our assets and moved up in quality and future embedded development profit.  

Here’s the situation:Key Project Details:•Property Size (pre-renovation): 250 sq. meters (2500 sq. feet)•Purchase Price: 250,000 EUR (1,000 EUR/sq. meter)•Renovation Costs: 750 EUR/sq. meter (includes kitchen, appliances, quality furnishings)• Loan costs (during renovation and renting): 350 sq. meters (due to attic expansion)•Property Size (post-renovation): 350 sq. meters (due to attic expansion)•Post-Renovation Layout: 2 separate apartments•Airbnb Income (24 months): 2,500 EUR/month/apartment (= 5,000 EUR/month)• Other running costs: 600 EUR/month•Projected Sale Price (after 2-3 years): 850,000 EUR (approx. 2,500 EUR/sq. meter)•Closing Costs: Negligible in Tbilisi•Real Estate Agent’s Fee: Typically 3%, but negotiable based on who hires themFinancing Setup:•Property Purchase Financing: 100% bank financing at 5.9% interest (bank has even financed 150% to cover some renovation costs in the past)•Renovation Financing: Our friend is offering to finance 250,000 EUR in cash for the renovationsProposed Partnership Structure:•Work Involved (on our side): Full renovation (10-12 months to complete), furnishing, and property management through Airbnb until the sale (2-3 years)•Profit Split Proposal: 60% (us) / 40% (friend providing renovation financing)Questions for the Community:1.Does the proposed profit split (60/40) seem fair, given the work we would handle (renovation, furnishing, property management)?

The other air quality issues are mold, lead paint and rodent feces.

If the replacement included upgrading the fence significantly (for example, replacing it with more durable or higher-quality materials), it may be classified as an improvement.

The cost of furnish an average size house could be as low as $5,000, if you are smart and go with high quality used furnishings like John said.

Are their listings detailed with good-quality photos?