I have one of my major partners based in the Smokies and we love seeing this!  

All my rentals are never less then 15 - 20% net based on cash purchase.  

Hopefully, based on actual field measurements, past project data, and estimating software, your contractor can develop a detailed estimate that lays out the cost of labor and all materials for each phase of the project.

I realize based on your reply that I misstated my question - I intended to ask if you get pictures post-cleaning to document the condition the guests will arrive to.

The key is to be ready, wait for the right property, and adjust your offer based on the strategy you want to deploy.The time of year is less important than the property itself.

Hi @John I'm based in Southern California, but I have started my out of state real estate journey in Indianapolis.

However, based on your risk tolerance, you need to decide whether to file now or wait.

Even if you believe you can stomach the monthly payments, paying $20K a year to carry a piece of land based on the information you shared is not recommended.

That's why I posted, to provide people with real advice based on my experiences so they can avoid making the same mistakes.Providing greater buffer space for capital expenditures and controls is a good risk management strategy.

Based on what you all have said I think my best option for now is to put the multi fam under my LLC and keep renting the others as I have been.