Cost approach A straightforward method that adds the cost of the land to the cost of building construction.

Every project needs a quote and you should be able to estimate the material costs.

Keeps costs low and guests satisfied!

I've added a few things for very minimal cost that guests really love and increased revenue ~34% year over year.

A few other methods cost some money but is usually just throwing away small amounts at a time. 

You will have holding costs along the way with repairs, maintenance, taxes, etc.

I'm curious as to what cosmetic rehab you have to do that costs $27K? 

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

Markets like Texas (San Antonio or Dallas) or North Carolina (Charlotte) could offer better cash flow with lower costs.

@Jessica Seppo,Many people take the cost of an LLC and funnel it towards more insurance and an umbrella policy.