Guests don’t know or care that your rehab went over budget.  

For example, CAPEX should be budgeted much differently on a new construction vs. a much older, non/renovated property. 

The majority of the budgets were spent on design, furnishings, and amenities, so in return, these STRs perform very well, actually exceeding revenue projections.

This morning the HOA on one of my properties located in Colorado Springs informed the owners of a "Special Meeting Notice" to ratify an amended 2024 HOA budget due to an unexpected high insurance renewal.

We will continue to depend on QuickBooks for accounting, budgeting, and bill payments.

You now know your cash flow and what you can take out.Investors' problems sometimes include not budgeting correctly for repairs and maintenance and not factoring in a set amount that they will be contributing to their reserve account for CapEx (if you have CapEx repairs coming up sooner than later, put away more money into reserves now).To summarize, factor in all expenses and your monthly deposit into your reserve account before calculating your monthly cash flow.

Budget around $300k.

I recently was finishing a rehab that in terms of budget was my worst ever (not ideal at my experience level but shows even those with experience have learning opportunities) but was still feeling generous to a local newbie.  

Redo your budget and get a new construction loan from a different lender.

But internally, budget is what they are running day to day from.