Imagine doing all that hard work and having to rip it up only a year later.I recently put laminate flooring in 2 of my upstairs bedrooms.

If it was in a better area or better schools then I could see one bath being overlooked, but this is in bad area and bad schools I'd imagine someone would want more space or cheaper rent.

If it’s just a shell and you’re going to build it out, I can’t imagine getting a permit anywhere without engineer/architect signed and sealed drawings (blueprints) that detail electrical, plumbing, walls, load bearing calculations, etc.

I imagine you got in this business to make it a real business, to scale up, you can not do that effectively and take every BS thing a tenant does personally.

I can't imagine how difficult it is for the mom.

I would imagine he is referring to being all in (purchase + repairs) up to 80% of ARV (in addition, maybe he has a lender who will loan up to 80% LTV).

I would imagine some form of performance history would be required?

I imagine the same is true of many areas.

It's been a few years since I've lived in Lou myself, but can't imagine the numbers making sense on a short-term rental in that part of town. 

I imagine I could do this with up to 20 with minimal challenge.