@Chris Hutchens I'm an air Force vet finishing my degree at Texas State before moving back to San Antonio!

Even though you should be setting aside reserves for future maintenance anyway, you don't get penalized with financing for choosing to do so vs. being forced to with an HOA.  

Exact is the opposite of the goal...buy in growing areas and add enough value (force appreciation) where precision of execution, management, or valuation is not needed/relevant.

-Carlos One thing to know, when you do a portfolio loan (cross collateralization), if you run into a financial downturn in the future and can't make a couple of payments, sometimes the lender can force the entire portfolio into foreclosure.

Toledo housing is affordable to a much higher percentage of the work force than the average city.

If a property is ugly and I can fix it up and make it pretty to get nice tenants at good rent rates, that is what I look for since I can force appreciation; and having forced equity and better cash flow because of now higher rents is always preferred to me. 

I can also assume that the curtains aren't gliding properly if guests need to use more force to pull them over.

@Shawn Blake even if HOA allows STR and/or ADU now, a vote of owners can enact new restrictions that you are then forced to follow.

Use them as an asset to borrow against instead and if you can.Don't leverage to the point where you can be forced to sell in a temporary or longer downturn.

We know the investor that sued the City of Eastpointe to force them to create the program to meet Michgian Statutes and even contributed to the case.