The comps in the area for MF's were at minimum 550k.Since purchasing the home there have been many updates to it to include a fully updated 2nd floor unit, updated bathrooms on both floors, new kitchen on the first floor, new roof, new driveway, new paver patio, updated front porch.

Update: 9 years later...We ended up renting this home out 2015-2017 and moving back in mid 2017-2020, renting again and moving back in 3 years later.

Lease to a Property Management CompanyPartner with a management company that handles the STR or corporate rental for a predictable income with minimal hassle.

Electrical as well but needs updating.

The fact that you agreed to update his flooring is very nice of you in the first place.

Most are in less desirable neighborhoods / are less updated, but some are on par if not better.

We begin to work with the future tenant and made specific updates and changes to suit this tenant.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

@Karen Seguin, it all depends on what you are trying to convey to your tenants.At minimum, any welcome letter should provide updated contact info for maintenance requests and mailing address for rent payments, and if the legal notice address is different than lease, include that.This can also be a good way to politely remind people of any general rules that you expect them to adhere to.  

Ziad, do you have any experience with a US corporation owned 100% by non US people?