Houses have flipped on my street for $MM - bought at 400k and sold at 1.7M or bought at 800k and sold for 3.2M, etc...We can either add a second floor and invest a lot (OPM) and sell or invest a little (our equity) not add a 2nd floor and rent it out to keep it for future sake.

Also if he is just taking PITI into the equation, he is missing/withholding info about utility costs, stocking/supply costs, cleaning costs, etc. 

How does one go about obtaining a basic floor plan of their AirBNB to submit to the city/county?

When you say swap out carpet - do you mean ripping off the carpet and replacing with laminate flooring or something else?

I stay away from historical buildings in general for all of the above reasons and more, unless it's a larger scale commercial building with concrete floors and great "bones" that can separate the uses/tenants better.

A bit of a more advanced exit strategy, but one that can be extremely profitable when implemented correctly.We spent $18k to clean out the place and then we turned around and made $40k after cleaning costs, closing costs, and commissions.

And that includes areas where water is REALLY expensive or really horrible, unlike Louisville where water is not only cheap but clean and plentiful.

And of course make sure the property is comfortable and clean.As for cleaning & maintenance, I found few companies who can take care of that.

Hey BP community,I recently purchased a SFR property in the Piedmont Triad area of North Carolina where I plan to replace the first-floor chimney with a bathroom (toilet, sink, vanity, stand-up shower).

This test ensured that 75% of the total monthly rent for the building would cover the mortgage, taxes, and insurance on the property.For example, consider a three-family property generating $2,000 per floor, totaling $6,000 in rent.