As seen above, average rates were in the 6.5% range and projections for both MBA and Fannie showed projected higher rates before they came back down.

The project was managed by one of my property managers for a 10% fee.Leasing and Property ManagementWith renovations complete, the property was ready to be leased.

The contractor also committed to informing me and getting my approval for any cost changes during the project.

It will familiarize you with the basic terminology and benefits.

Most turnkey companies proforma does not tell the complete story and that is why is called "PROFORMA" OR "PROJECTION", they don't account for the true vacancy, leasing fees, holding costs, and Headache factors that come with a Class C and D properties and neighborhoods.Hopefully, they can help you get to 100% occupancy and sell the property so that you can re-invest in a better neighborhood and relatively newer property like 2020 or newer if is possible in that market, or just go to another market you understand better or have some kind of connection with.All the best and keep us posted on your progress.

Educate the land owner on the potential profit run the numbers and go over the basic proxy and blue prints.Make sure you have a seasoned and qualified Builder/GC because they can be a deal killer with wasted time and inflated material and extended completion dates.

An appraiser likely won't be able to value a 1-4 unit property based off STR rents (whether projected or actually incurred), and if they are, the lender won't lend off said valuation for their applicable value (value they're lending off of). 

The alternative is I pay cap gains taxes and dump the capital into my rebuild project on my primary which would allow me to rebuild without any financing at all. 

Wanted to also echo that the arcade guys is a garbage project.

I have many flippers coming to me, asking for assistance to come save their projects.