This strategy does take some work to implement, but it's been very worthwhile, so I would highly recommend doing it.

Or wait the lease out and implement it, as you said.

It was purchased with intention of implementing a BRRRRIt was a very simple cosmetic fix up.

What creative solutions are you implementing? 

The new floor plan design was implemented for each unit (2 total units) which in turn captured the highest rents in the area for at lease the first 10 years post renovation completion.

Yes, fear played a part because China could play on fear to implement quarantines, which we likely couldn't do in the US.  

This is just a company implementing somewhat of a “turn key” ADU deal for homeowners, anybody could simply hire their own architect, GC, and agent to rent out the unit and accomplish the same thing for likely less money and not be stuck with section 8 tenants.

It would be helpful to define what your plans are for the building e.g. if you plan to sell/refinance soon you may not want to take the NOI impact as a result of implementing electric (or mini-split systems which I have also heard good things about).

That could mean:Your fees could go up at anytime.You could get hit with a special assessment.They could implement a rule about how many rentals can be in the complex / how long they can be rentals.

I have some experience in multifamily and commercial RE but I’m hoping to implement the BRRRR strategy soon.