I very much like the strategy, but I am also a fan up the new updated strategy BARRRR, which incorporates advertising right after purchase.

Would I be correct if I asked him for blank contracts with those certain contingencies incorporated? 

Have you incorporate capital gains in that calculation as if it's an STR (and previous rental) I'm guessing you have not lived there the last 2 of 5 years. 

@Mary Jay I work in corporate America and have a family at home along with trying to invest.

Hi @Erik Pfundstein I saw that report last night as well and after review I believe that it is important that people keep in perspective that Fall River was included in the list of only 300 cities that have a population over 90,000 in the entire country.Of the 19,354 "incorporated places" in the United States only 300 of those towns/cities have a population over 90,000.The city of Fall River's average sales price was $227,900 in 2017 and in 2018 we are seeing it increase in the last 6 months:Avg.

I think I should just add a friend or a relative and give them 1% or something...Should that 1% be reflected in the articles of incorporation?

Still rented out.Final numbers/budget break-down are shown in excel below.Final Renovation Budget Dec 2017Key lessons learned>Incorporate security into renovation plans>>Allocate budget for fencing, securing perceived weak points and window coverings >>Time is money – I could have subcontracted a lot of this work out very early on and finished the house in <4wks vs letting it stretch out over seven months, two break-ins and a hurricane, not to mention lost rental income (could have rented the bedrooms out starting in late April vs mid-July)Stuff I can do now that I couldn’t before>Install flooring and baseboard (market rate is $2-3 sq ft for labor)>Remove a toilet, floor a bathroom and install a new toilet in <90minutes>Remove/Install sinks>Repair exterior housing>Backsplash tilingNow for the before & after photosScreen Shot 2017-12-15 at 7.04.11 AMScreen Shot 2017-12-15 at 7.04.25 AMScreen Shot 2017-12-15 at 7.03.56 AMScreen Shot 2017-12-15 at 7.05.21 AMScreen Shot 2017-12-15 at 7.04.55 AMScreen Shot 2017-12-15 at 7.06.24 AMScreen Shot 2017-12-15 at 7.06.16 AMScreen Shot 2017-12-15 at 7.06.08 AMScreen Shot 2017-12-15 at 7.04.40 AMScreen Shot 2017-12-15 at 7.05.37 AMLIVINGBEFOREAFTERScreen Shot 2017-12-15 at 6.50.41 AMScreen Shot 2017-12-15 at 6.50.50 And the final professional photos - not bad for a $24k rehab!

If you've got a model that works for you incorporate that war chest into it.

In order to determine if a house is a good investment or not, we created a spreadsheet that incorporates the recapture tax as part of the calculations. 

I generally incorporate a small increase in rent into all renewals, just to keep up with rising expenses (e.g., taxes, HOA fees), inflation, and fair market value.