@Gary Barella that story hit home with me heavy.

I am not sure which area in Ohio (cleveland, Dayton, Cincy) or PA could be better for me, I don’t have any realtor or property manager and I’ve heard a lot of horrible stories that I am scared of the process.

One of them is a 2 story house right on the beach - and they always say summer is *surprisingly* slower for them.

What is the story in your market?

There are stories everyday now how people who used to make 50-80k working for someone else started their own business and are making 400K a year.

  (3 story walk ups). 

I think most of these PMs make a lot of money off application fees, and have heard many stories from renters paying lots of application fees without getting refunded if the unit rents to someone else. 

The main house is completed and as far as labor, I spent $40,000 on just labor and that includes everything from full gut demo to finishes.We are talking about a 4BD, 3BTH two story 2400 ft.² home with a bonus room.This was a full gut job, replaced…12 Windows (new construction)2 sliding doorsTook out all carpet throughout.Took out this ugly 2” thick tile from half of the downstairs portion.Removed popcorn throughout the entire houseTook one wall downA little framing workReplaced entry door 80” x 92”Drywall patchingSmooth drywall work50 recessed lightingAll electrical neededAll plumbing neededNew cement walkway instead of one walk to the front door I created two steps with two lights in each step.Install kitchen cabinets, excluding countertopInstall all three vanities3 bathtubs with one being a modern standalone tub in the masterAll tile work (bathroom wall & floor, kitchen backsplash)Installing of all hardware, faucets, showerheads, etcInstalled 8 single panel doors with hardwareAdding self-leveler after tearing out that thick tileNew LVP flooring throughout the entire house except bathrooms,all baseboards, trimsPainting the entire house, painting all the doors, painting the outside trim.Reframing the outside balconyReframing the fireplace to install new linear modern electrical fireplaceand they took care of the two trash bins.I mean, completely redone.The only thing that was not included in the $40,000 is landscaping, counter top cut and install and of course the ADU which I’m currently working on now.So my question for my fellow investors and contractors did I pay too much?

You will need to create the story for why these properties are a good investment, especially if you are divesting for distressed reasons.

Prices less than that tend to require a lot more rehab budget or, are unlikely to have the proper mix of location, size, amenities, etc to have a strong ROI.If you follow @robbuilt from BP you'll see he just posted on his IG story a link to my most recent STR I launched for a client!