No one will care about you place as much as you, but they are also a go to place for some people who are looking for rentals.I would sell a place if there is frequent turnover and repairs or if your long term goals have changed.

Capital improvements are not immediately deductible as repairs; instead, they must be added to the property's cost basis and depreciated over the property's useful life.

New construction in appreciating areas offers long-term value growth, minimal repairs, and potential tax benefits, but often comes with higher purchase prices and slimmer initial cash flow.

I bought Class C in 2023 hoping it would at least cash flow a little - so far the repairs outweigh any cash flow.

Hello, BP Community!I reached agreement with a seller to buy their 12 unit building at a very good price, but the property is located in an area where I'm required to have windstorm insurance because it's location clo...

------------------------------------------------------------------------------------------------------------------------------------------------------Just do shower pan repair. $1,520.00•Demo about 12” of walls and rip out entire shower pan and step •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client Optional (just in case fixing shower pan does not fix the water leak) rebuild shower. costs extra $5100•Demo shower • New plumbing for a new fixture •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client •Client provides plumbing fixture

And, that is in a nice neighborhood where you can get $1100/mo for a 1 bedroom.Here it is: $50,000 rental income less CapX and Operating Costs @30% (don't forget you own 16-20 appliances that nowadays last maybe 5 years and can't be repaired) . . . =$35000 for debt service and return on downpayment.

They must pay the market rate, the same rate you officially list for the property.The good news is that you staying in your STR for the purpose of making repairs is not personal use.

Some greatly exagerate the after repair value and way underestimate the repairs.Hopefully your previous experience will help you pick out the best deals.

OR should I be happy with what I'm already being charged and not renegotiate.Right now I pay 100% of first months rent for new leases$68 per unit month for management$150 for lease renewal$500 in reserve per unit for emergency repairs (this will add up on a multifamily not sure how I feel about that)$75 in person service12.5% for renovation projects and repairs20% upcharge on evictions last one was ($560 total)Thanks in advance for your help it means a lot!