It's not for everyone because of the more hands on management it entails but the returns can blow most long term rentals out of the water right now.

This is causing water leaks.

Thanks for sharing the idea that Fix-It-All absorbs water and can promote rot in the wood it contacts.

Inspecting revealed a water leak from the second floor, above the garage, that shorted the light.

An updated roof mitigates potential water damage in the future.

I’m planning to update and repaint, maybe increase rent on one side to 3000-3100 while I live in another unit and replenish to legalize garage space.Monthly payment: $7033. landlord pays for water, everything else is separate.It just feels very tight in the beginning before getting ADU gets legalized. 

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

But I do know that people often spend thousands on a beach house for the week, and depending on its proximity to the water, will pay even more. 

The syndication scenario is viable of course but I will say....I dont know whom I know that would invest or have money so Id need to go to new waters. 

So my guys were down to the basement and looked behind the water heater.