I unfortunately had gotten in a deal with the owners of the program, a few things later things started to come to light because of another situation.

In light of that did the developers wind up getting a pretty decent deal out of this after they took a big risk on a property with crazy restrictive zoning and no clear path forward prior to purchase?

Principal changing his name (sometimes just slightly) to walk away from previous recordIMO a light search, like Google, is a good FIRST STEP in vetting a deal.  

Purchase price: $600,000 Cash invested: $30,000 Sale price: $799,000 This was a very light rehab project

My units don't come with refrigerators but for $25 a month more I will supply a basic unit.  19 cubic foot, no icemaker, no water in door, etc.

.✅ Secondly, good cause has a max cap on yearly rental increases at a certain margin above CPI or 10%, whichever is less.For those of you who own stabilized, high quality housing like we do, this shouldn’t be a problem.But instead of keeping rents flat because you are a nice person or increasing just a little bit, you could get yourself in trouble when it comes to funding future major repairs and capital expenditures.As long as you are increasing to what the market will bear, you will be in good shape.Also if you are looking at purchasing blighted, dilapidated housing with the intent of raising rents and financing improvements to the property, you will have to take this into consideration and buy accordingly and on in place rents not projected rents.On the implementation side, however that pans out, you might be able to get these necessary rent increases to finance repairs but you may need to go to housing court in order to get the green light but we are just not sure at this point and remains to be seen.✅ Thirdly, in regard to objectionable tenancy and nuisance caused by disruptive tenants, you will need to document these violations with undeniable evidence.Because police reports are not usually able to be procured due to disturbances like drug trafficking or domestic violence, you’ll need to take matters into your own hands on producing that documentation.I recommend getting security cameras installed in all common areas and outside your properties.I’ve used SimpliSafe security cameras but you’ll need to install WiFi service at your properties so that you can maintain recordings in the event of violations and add to your lease that any tampering with said cameras constitutes a lease violation as well.This is still developing and once we get further clarity, we will host a round table with legal experts on how to best protect our properties and residents.

As soon as housekeeping gives the green light I reach out, thank them for being great guests and offer 15% off a future booking if they make it within 2 weeks.

If you walk into a bathroom and see peeling paint on the ceiling, you know that room was not ventilated while showers were taken.Wire exhaust fans to the same switch as the light so that the fan has to be turned on.

I suggest the first property should be turnkey, the second should be a light rehab (finish basement, redo bathroom).

Same as Isha here...would love to hear how things are going in light of the new market conditions.