When you add purchase price, carrying costs for at least 6 months, materials, labor, real estate agents costs and taxes, do you have at least a projected 10% profit?

We’ve been working towards this for a few years, and it is very exciting to finally see the fruit of our labor!

Hotels are the baby of real estate investing and running a business.Unlike any other commercial asset class, hotels are extremely labor-intensive to run but can spit off ridiculous cash flow.

Also, are you trying to avoid one with an ice maker--potential here for additional maintenance if any issues arise.I've had Whirlpool, Samsung, Frigidaire in properties without any issues.Make sure you're aware of what the manufacturer warranty covers things such as parts, labor, and compressor.  

Quote from @Account Closed: I would say.. can you save the tub and re-glaze and redo the tile on the wall can save you $1,000 or more just on materials and labor..

The cost of labor , materials , property taxes , inflation , interest rates  etc .

I've tried the lower 6-7% PMs and usually you'll either pay mark ups on repairs (what you've noted) or pay extra fees (i.e. labor hours, extra calls) that you may or may not notice. 

If they put things in a dumpster you aren't paying for someone's labor to do that work. 8.

Little paint and the contractor I found let me buy the material and only charged me labor.

Good call, Noel—licensing and insurance are critical, but in Tennessee, a contractor’s license is generally required for projects totaling $25,000 or more, including labor and materials (See Tennessee's licensing requirements).