If you watch the Flipper shows on TV, like Flipping Freakin Vegas reruns, it looks like a few weeks and they never tell you the Net after Taxes etc.

If that would be possible, then UBIT and recapture should also go only to cash investors.Much to learn in this domain, and many bad apples around.

Hi @Elijah Lopez, single-family and multi-family are apples and oranges.  

Initial renovationsFurnishing the rentalMonthly utilities, internet, TV, consumables9% lodging tax rateMarketing and bookingLet's say you make $17,000 a month income.

Try and have them bid " apples for apples".1- Windows   , Vinyl, Low E.2- Six panel doors and no jambs but new trim.3- two tone paint, these two colors.4- New bathroom vanity, toilet, and remove old tile with new tile. 12' X 24".Etc , etc.Brent is smart and great article, I am just adding my point of view from a seasoned  Re- hab contractor!               

Watch the HGTV shows in the evenings instead of the worthless news and idiot TV shows. 

Or worse, they hurt their finances with unneeded overhead while adding risk because they don't maintain the entity correctly.A Land Trust is apples and oranges to an LLC.  

I would get  couple other General Contractors to bid it with a list that you prepare for them.Make sure that the bids are apples for apples. 

Our tenant just moived out and made several unauthorized changes to our house, including installing a Ring doorbell (which was removed, leaving two large holes drilled into the brick) and installing an outlet and ethernet connection on the wall above the fireplace (which he sighted as an improvement, but I'm not sure most renters will install a 40+ in mounted tv, making it an eyesore on the mantle wall in my opinion).

 $60k in this property could be invested in Bitcoin or Apple stock or a SP500 index fund.