One effective strategy to maximize unit potential is to explore opportunities for adding extra units, especially in C-Class properties.

We have increased our monthly rent to price ratio from your ~0.75% to 1.1% but the leverage ate up all the extra cash flow (even if the total return is likely higher).You could be a cash buyer and go from your one property to 20 and cash flow 20000/mo but you are still having to buy and manage 20 properties.You can do better on the total cash flow in other markets or rougher neighborhoods, but the story is similar: you are getting an extra ~25-35% in income for 20x the hassle.

What's the details on the deal with firstwatch if you don't mind sharing. 

Here’s the situation (personal details removed):The tenant reached out explaining that they’re going through financial difficulties due to an ongoing divorce and lack of child support.

Keep detailed records of payment dates and amounts and consult a tax professional to ensure this strategy aligns with your overall tax planning. 

Insurance is expensive, there is a lot of extra maintenance like painting or electric in common areas that don't apply as much with smaller units. 

Local professionals can help confirm the numbers.Feel free to reach out if you’d like more details on Oklahoma or want tips on getting started in these markets.

@Janene Tompkins  not sure if my message went through but check out podcast 110 where I give some details.  

My advice is to get proposals from several GC’s, compare their pricing, compare the detail of the proposals (make sure everyone is bidding the same scope of work) and ask around about how they have performed on other projects in the area.

So your saying select No Damage Protection and just submit an extra charge when it's warranted?