I bought Class C in 2023 hoping it would at least cash flow a little - so far the repairs outweigh any cash flow.

Experience on several different levels, for repair, and time line.

Charge the tenants for the service calls to repair THEIR damages & violations.

Capital improvements are not immediately deductible as repairs; instead, they must be added to the property's cost basis and depreciated over the property's useful life.

New construction in appreciating areas offers long-term value growth, minimal repairs, and potential tax benefits, but often comes with higher purchase prices and slimmer initial cash flow.

------------------------------------------------------------------------------------------------------------------------------------------------------Just do shower pan repair. $1,520.00•Demo about 12” of walls and rip out entire shower pan and step •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client Optional (just in case fixing shower pan does not fix the water leak) rebuild shower. costs extra $5100•Demo shower • New plumbing for a new fixture •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client •Client provides plumbing fixture

And, that is in a nice neighborhood where you can get $1100/mo for a 1 bedroom.Here it is: $50,000 rental income less CapX and Operating Costs @30% (don't forget you own 16-20 appliances that nowadays last maybe 5 years and can't be repaired) . . . =$35000 for debt service and return on downpayment.

They must pay the market rate, the same rate you officially list for the property.The good news is that you staying in your STR for the purpose of making repairs is not personal use.

Some greatly exagerate the after repair value and way underestimate the repairs.Hopefully your previous experience will help you pick out the best deals.

Hello, BP Community!I reached agreement with a seller to buy their 12 unit building at a very good price, but the property is located in an area where I'm required to have windstorm insurance because it's location clo...