Maybe you fix one part, and another part fails. 

@Mike Levene cost to build per square foot is $200-$300 depending on finishes.So, you can start with that.

You probably don't run many applications, so I wouldn't sweat losing a little money on each one.

It’s one of the few places where you can realistically achieve solid returns without needing a massive upfront investment.If you’re open to exploring other markets, Detroit might be worth considering.

Quote from @Virginia Frost: I'm always looking for a good opportunity but honestly my next purchase will probably be something that I don't have to do a total overhaul on.

.: Quote from @Jay Hinrichs: Joe I think one of the issues with rentals that need to be fed is how people have such a fixation on ROI and leverage . 

Which BTW solves the issue of having contact information on file.

It did find some serious credit issues with the first applicants I had, and some minor ones with the second applicants.

Many investors fall into this "do-it-all" trap, believing no one else can handle things as well as they can.

Congrats on turning that boutique motel into a success!