A SFR was built in 1947 and required renovation.The 2nd parcel, which is right next to it, is an vacant land, no address associated to it.My initial thoughts are:1.Purchase this property and rent the house after minimum required updates 2.

Below you can find a quick FAQ sheet of the updates they have implemented and will be implementing soon.Quick Overview: - The cost of application fees has increased- Platforms will remove listings without legitimate permit numbers- Platforms will have to remit the Hotel taxes directly to the city of San Antonio (Operators still have to file revenue reports monthly)- STR operators can change the operator of the permit without a new application being required (it seems the permits are still non-transferable upon sale, however)- Updated Party Prevention measuresMy Take:This should weed out some hosts that have not been abiding by the permit requirements.

We are looking into purchasing cash and do some light updating but the county records shows as a 2/1 but the house is actually a 4/2.

Get in touch with geico in case I need to make updates to my homeowners insurance5.

It is updated every year to comply with the new Chicago rule and regulations (residential landlord and tenant ordnance). 

I also learned how tremendous it is to have a great operator (general partner) who is running the deal, so I am able to get regular financial reports as updates, and trust that my capital is safe.

Even in the best scenario you would have spent $1,500-$2,000 to update the smoke detectors and C02 testers, cleaned the carpet, re-glaze the bathtub, update any leaks and light paint and wall repairs.  

Rehabbing units, new porches with a grant program in the works and eventually updating siding as well What was the outcome?

Cash flow does not build wealth, but when you are starting out, make sure that the cash flow is ample on any deals you go after.   

Any update?