And that includes areas where water is REALLY expensive or really horrible, unlike Louisville where water is not only cheap but clean and plentiful.

Hey BP community,I recently purchased a SFR property in the Piedmont Triad area of North Carolina where I plan to replace the first-floor chimney with a bathroom (toilet, sink, vanity, stand-up shower).

A bit of a more advanced exit strategy, but one that can be extremely profitable when implemented correctly.We spent $18k to clean out the place and then we turned around and made $40k after cleaning costs, closing costs, and commissions.

And of course make sure the property is comfortable and clean.As for cleaning & maintenance, I found few companies who can take care of that.

Get a floor plan drawn out BEFORE you start the work!

Hello,I am looking at a mixed use property on Long Island (first floor retail plus 4 residential above) and would like to know when the most appropriate time is to ask for things like audited financial statements, tenant ledgers and/or anything I else I should be asking for? 

I basically group the business into 2 segments, administrative tasks (pricing, marketing, guest communications) and field tasks (cleaning/maintenance).Part of being a successful operator of anything, you have to know your strengths and weaknesses. 

Not a major rehab - flooring, paint, and some misc. work  - not a full blown renovation.PS: I wish BP could really have a search function because the current one sucks. 

To qualify, property owners must meet specific criteria:Guest stay duration: Rentals must average no more than seven days per guest.Service level: Owners must provide services comparable to a hotel, such as daily cleaning, meals, or transportation.

Is it true that if I get a title search (and it comes back clean) that I can be pretty confident there are no additional liens or monies owed that I'll now be responsible for paying off?