Smart tech, such as fast Wi-Fi, streaming services, and keyless entry, consistently gets positive feedback, as do luxury bathroom additions like plush towels and rain showers.

Preparation is key, and relationships are everything.When closing a property deal, the funds typically required include a purchase deposit, which is refundable during the due diligence period, and an additional nonrefundable extension deposit.

To leverage the STR loophole, ensure active participation in managing the property.

Ensure your agreement with that person has teeth so if they sign off on something that isn't right they can be held liable for it. 

I ended up hiring a local attorney who specialized in landlord-tenant disputes, and while it cost me a bit more upfront, it was worth it to get the situation resolved without additional delays.A close friend of mine also delt with an out-of-state eviction in Michigan last year.

Partner Driven and Traci Stephens recognized this as a low-risk deal with high potential for a rapid turnaround, making it a perfect addition to our portfolio.

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

What started as a promising BRRRR ended with us making the tough decision to sell at a loss after an unexpected disaster.The Numbers:Sold for: +$230KPurchase Price: $115KClosing Costs: $3KRehab Costs: $105K ($49K original rehab, $56K additional repairs due to the car crash)Holding Costs: $31K (12 months)Selling Costs: $16KInsurance Claim Recovery: +$25KNet Income: - $16KWhat Happened:This was supposed to be a BRRRR.

All they are doing is adding additional costs and getting zero protection.

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?