Condos have a lower price entry point, but many are facing insurance assessments due to rising insurance costs, so that has to be reviewed carefully, but single family homes are seeing the same rate pressure unless very new construction. 

I guess the previous owners didn't notice or care.

Let me know if you have any questions  Hey @Connor Thomas, you're learning the #1 lesson of real estate investing, which is to run your financials carefully in advance!

My first did well based on selecting an area that we frequent.

of course all of those things help cash flow but is it realistic will it work.also your more than 300 negative as you have no money for maintenance or cap ex.the easiest way is to reduce debt. or if you think there is really good upside just pay the negative its just a small number who cares . 

Likely your tenant is already aware of this, but I understand its a sensitive topic and a big jump as well - if they've been a good tenant so far, it could be worth it to have a convo of raising the rent but giving a discount for them taking care of XYZ on your property/ies. 

I think for short stays most wont notice and those that do will not care much.

Most of them only care about Balance Sheets & Income Statement.

With careful research, a strong property manager, and your local partner, you’ll be well-positioned to succeed.

Corporate formalities are taken care of and minimal as a single member LLC.