Even after spending $15,000 on a basic refresh, he could have sold for $130,000—without the headaches of evictions, repairs, and property management.

. $50 per bedroom, so a 4-bedroom house will cost you about $150~200consumables - bathroom supplies, kitchen supplies, beverage supplies: $20~30 per week, depending on how much you providewear and tear - towels, linen, kitchen utensils, some furniture: $1000~2000 per yearRepairs/replacement for things that guests break or steal:  $1000~2000 per yearAlso, if your personal use is less than 14 days a year, the entire property's expense is deductible against STR income, but if you use more than 14 days, then you will have to calculate the proportion of how many days it's rented out vs how many days you or your family uses. 

The only person willing to lend me money was Paulie—a guy who charged a point a week and always had a baseball bat within arm’s reach.

Here’s a breakdown of the main ways investors fund their first deal while minimizing their own cash outlay:1.Private Money & Hard Money Loans– These lenders focus more on the deal than on your personal finances.

Will use round numbers to simplify the conclusion we came to, but it ended up making more sense for them to sell as-is versus go through the remodel process...AS-IS VALUE: $550,000REHAB ESTIMATE: $250,000AFTER-REPAIR-VALUE: $850,000-$900,000There was the possibility of making a *little* bit more if they went the rehab route.

Yes, in theory a person can make CRAZY $$$$, and some absolutely do. 

It's very personal and varies wildly. 

Zero-percent business credit lines can be a great tool to fund renovations, repairs, and even serve as gap or bridge funding when working on a BRRRR deal.

They can say you failed to make a repair and wish to withhold ent to get previous rent returned. . 

Personally, I bought a 3 bedroom house as my first purchse and lived there while renting bedrooms and 2 bedrooms rent paid all of the mortgage payment and 2/3 of the utilitites.