No one wants to pay more for something they have enjoyed at a discount no matter how much improvement has occurred.Basically you need to keep this sort of rental as a month to month deal.This is very important because the tenant is a short term tenant.They are usuallly too smart for their own good. if they are clever enoughto spot the advantage to this situation they think they are clever enough toget more from you than you are willing to give.They will end up problematic in the long term. but in the short term they work out really well.Keep them to 6 months maximum.especially when you go to increase the rent after the renovations are complete.To me the good out weighs the bad when you are in a cash strapped positionI have employed this strategy four times.I have found that at bare minimum I have managed to pick up a few thousand to put toward a renovation.I never found a great tenant that I would want a long relationship with.I managed to improve two properties using this methodand I will use it again.this is what I have learned.Do get people who know a thing or two about building houses.always be there to inspect anything you let them do.let them know that you will be around to inspect the jobduring and after its completiongo over all of your details prior.Never let them do any repairs without your consent.let them know this will be grounds for immediate eviction.Always set time tablesnever never make promises about what you will donever make statements about you want to donever make statements about what you wish to do.keep the lease to a month to monthor 6months at a maximum.Do attach a rider to your lease thatreleases you from any liability in case they get injured on premises.Thats all people.this is an emergency solution not the ideal solution.I am not recommending this as a first course measure.but in those situations where you may have thought about leaving a property vacant until you can get around to fixing it up

It's hard to buy and hold in SF unless you: have a sizable down payment, can ferret out a good off market deal, or can find a clever value added play that will increase the income after development.But other than that yeah, only an idiot would invest in San Francisco ;)

They also have very clever space savers and pullout pantries in various sizes.

Also, I've started painting all of our units a very, very pale yellow/linen color (the wife picked it out and everyone that sees it loves it) and the trim all gets hi-gloss white enamel.

~~~~~~~~~~~~~~~~~The sooner "they" figure out that to get people paying what they can afford instead of all these "clever" ideas, the sooner this will be over.

I've never marketed to that group of sellers, but I am impressed with your clever thinking.

The clever investor is a genius.

I started in RE about 4 years ago, I still prefer not to have to travel to airports to get to a property as it is not time efficient and at first glance may seem financial clever, but requires solid relationships and experience investing locally or regionally before going nationally.

His company offers a hands-off experience for the owner, where they manage the client experience, linens, cleaning, etc.

You'll also have to deal with removing the squatters, which, depending on how clever they are with the law, could be more complicated that you think.