That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

I would consider the tenant's past, as well as the condition of the unit, my local market, and other factors.

This includes flooring, painting, bathroom upgrades new light fixtures, usually there’s about $800 in electrical costs factored in here and all new cabinet hardware.

Are there specific factors you look for in an area to make sure it’s a good fit for this type of rental setup?

@John Underwood what would you say was the key factor is making your LTR cashflow so much? 

You’re absolutely right—speed is such a critical factor in securing deals, especially in a competitive market.

It depends on a few factors: First, the fires.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

Keep in mind, though, that each lender has their own criteria for how much future potential they’ll factor in, so it might come down to some skillful negotiation and presenting detailed projections that don’t feel like puffery.Just be careful not to come off as overly speculative…lenders tendd to shy away from what sounds too good to be true.Anyway, I’m curious.. have you spotted any other investors in Gainesville facing a similar refinance puzzle and what kind of terms were they able to secure? 

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor...