To cover renovations, I secured a $60K hard money loan, allowing me to improve the property without a significant initial investment.

But any improvements are at your risk.. the redeeming party just owes you your cash plus in our state 9% and any VERIFIABLE expenses you paid to protect the asset.

Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.

Instead, ask your accountant to write a letter of explanation for your finances that adds back depreciation and capital improvements rather than expenses.

Their plan is to raise rents (on the poor remaining souls, improve infrastructure and exert some sweat equity. 

Strive for constant improvement, adapt to market changes, and continuously learn and develop your skills.

Are you looking to buy more properties in LR or just improve the cash flow of your current one?

Your best option would be to refinance your loan (if any) and get a construction loan for the improvements.

Most are being encouraged to buy Class B-minus rentals and below, but no one corrects them about their mistake of using Class A assumptions on these rentals:When a newbie gets smacked with reality via their losses, they then can only suck it up until time improves their mistake or dump at a loss.So, my question is, why can't we all do better and grow our industry with integrity?

Any other suggestions to improve my due diligence process would be appreciated.