It's going to be a hard year, but hard years is where you can make the most(not in 2024 but in years later).

Cupcake shops sprung up everywhere, the Food Network started their show, Cupcake Wars in 2009 (still on) and then.... a few years later industry consolidation after the run-up.

You plan to later demolish the property and rebuild it.

Clearly there were missed maintenance issues in this case, but I would still instruct your PM (or future PM) to make it a requirement that all prospective tenants tour your properties first before processing applications.I’ve even had tenants sign Sight Unseen / As-Is addendums and later be unhappy and still want to break their leases.

Charleston later this year, and hopefully Smokies too. 

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

They don't inspect and only discover damages three years later when the tenant leaves.

You can actually be sued for up to 7 years later. 

This first property is a test case to see if I want to continue investing in CR (or perhaps mexico and belize later).

One lease is the owners brother which becomes important later on.