I am interested in adding to my STR portfolio and helping my family increase the revenue of their existing investments as well!

They designed the hell out of it, added a hot tub, and they're averaging $80k for the first two years. 

Keep it to a bathroom refresh or adding a bedroom at max.

@Tyler Kesling, if it's an FSBO, the owner is likely not going to pay the broker commission fee, which means that it will be added to your cash to close.

It is a logical decision for to PM your company and ask where are the A-D classes located in Detroit in order to compare to Chicago and other areas I am looking to invest in.

Although I am sure some guest do like that added touch, I would not leave in my rentals.

Can you multiply cash flow simply by changing the type or adding doors (from SF to MF).5.

We bought a house and paid cash for it, forced some value into by adding over 1800 square feet onto it with very little cost due to an addition that was already started prior, and updated the house built in the 80's.

I've made hundreds of friends and sourced more clients than you can imagine from doing one thing - adding value in the forums.I never once said I was an agent or where to find me.

If the second property you are buying is not turnkey, will require some work, and there is a clear value/range of what you can bring the property to by adding value then you can refinance to pay back the majority if not all of your HELOC (used for downpayment or to buy the property completely).You'll need to know how to analyze an after repair value of the property to figure out if that technique can work or not.