This can range from minor cosmetic upgrades like new paint and flooring to more extensive work such as replacing the roof or plumbing.

He had cash saved up for his first investment but was tempted to use a loan to “stretch” his money.

Other times they may quote something ridicules like $10k for painting because they're going to subcontract it and while I HATE painting it is something I can do for $100 and hour IF the budget is being stretched. 

Hi Nico,Thank you for your post, You mentioned that hiring a few virtual assistants (VAs) to cold call has been effective, and that text messaging is also performing decently,I specialize in identifying and revitalizing unique properties—those that are not typical, for example, I recently spotted a triangle-shaped property that has the potential to be transformed into something beautiful and valuable, either for living or resale, Could you please share your approach and any guidance you might have on the process of using virtual assistants (VAs) to cold call and the text messaging strategies that have been effective for you?

DisclaimerI am not a title company, and I strongly recommend hiring a professional title company to perform thorough due diligence.

ROI and cash flow only predict how a property is likely to perform on day one of a lifetime hold.

It might help to connect with local property managers who handle STRs to get a sense of what types of properties perform best. 

Buyer is aware that seller intends to perform an IRS Section 1031 tax-deferred exchange .

I have been using the BP calculator more extensively compared to the others I mentioned.

Compared to pre-TCJA rules, there is no material change in the tax treatment of a building involved in a like-kind exchange, where a cost segregation study has been performed.