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.

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?)

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. 

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.

The watering hole!

Full rehab of the home to include new primary and secondary bathrooms, installation of new island and coffee nook with granite countertops, new water resistant LVP floors throughout, new paint, crown moulding in living room & kitchen, new electric water heater, and conversion of coat closet to mud room.

Same thing here in Florida with all the rich guys wanting a million dollar house on the water with the hurricanes.