When a professional is running the pricing, the schedule, and the guest services, you would be shocked to see how much 1 unit can actually make.

We typically let them know that we'll be raising the rents incrementally and we will sometimes give an increase schedule such as they're now paying $450 and we're raising the rent by $20 effective in two months, and then six months after that it's going up another $20.00 and so forth.

This is defined as those with gross receipts of $25,000,000 or less for a three-year period.Claiming Interest ExpenseIn order to capitalize on your interest expenses, taxes must be itemized, and investment interest expenses are to be listed under Schedule A on Form 1040.

What I have done in the past is that we (myself and the contractor) discuss the project with as much detail as possible, what materials will be needed, how many people will work on the project, how long it will take, when they plan to start and finish, work schedule, and what the budget/price will be. 

Renovations on stabilized properties are usually scheduled in-sync lease turnovers.  

A few things to keep in mind when obtaining an FHA 203(k) loan:1) Improvements paid for with a 203(k) loan must generally be completed by a licensed contractor and are subject to approval by an FHA appraiser as well as oversight by the FHA-approved consultant if it’s the standard loan option.2) You must develop a remodeling plan, schedule, timeline and put it in phases. 

For maintenance - I schedule maintenance walk-throughs at least once a year, if not twice, and keep in regular contact with my tenants.Since you're interested in STR/MTR, some of those tools may come in handy.

My current 90 home project in Oregon was like that Farmer owned it for decades And when we bought it for 7. 2 mil cash they did not even do a 1031 just paid their cap gain and called it a day.www.ivyridgeestatescanby.com  is the project and its been a winner.. albeit a few years behind schedule with pandemic and lumber and every other impediment.. ( could not get garage doors for a while :)  ) So hopefully if anyone actually reads this and has interest they will see the benefit of learning how to go into the cities look at long range planning get to know the long range planners identify movement we can all do it as small investors we do not have to be big corporations 

I know a lot of investors wait until they buy the property and then start getting estimates and work scheduled.

To optimize your performance as a STR host, remain current on evolving technology and trends in the business.You obviously have a hectic schedule, but you can get through the process of buying and operating your first STR property with commitment, thoughtful preparation, and team support.