Usually they are a ten year contract, but for 50% they take care of everything, and will usually pay something up front to "decorate" or set up the laundry area...$1000 or more.

Something you may want to consider in the future: all of our homes with fireplaces are listed and considered as "non-working, for decoration only", despite the fact that virtually of them do work.

Spend personal cash to perform needed decorative improvements.3.

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Install Luxury Vinyl Plank flooring (LVP) throughout both units (Home Decorators Collection Blue Cedar Grey from Home Depot) Install new counter tops and cabinets in 2nd floor kitchen New Vanity/shower for 2nd floor unit Install 3 new windows Install Sump pump in basement Update washer dryer hooks (each unit) Paint all ceilings/walls/ trim ( Agreeable Grey from Sherman Williams) New appliances for 2nd floor kitchen (used from Facebook Market Place)Holding Costs: $8,271 4 months of $1,284 interest only payments Taxes Utilities 6 months Builders Risk/General Liability Premium After all said and done I spent $28,397 (not included holding costs) and was under budget!

After closing, we all own one-third of the deal and equity, though --> Trying to earn as much sweat equity as possible.There was a slight value add in this property, and it could sell for $610K+ now due to new paints and updating some decor.

If you have some smaller decorative stained glass windows leave them and just ad storms.

Putting private money into furniture and decor on the STR side, and using private money partner in the deal.

Except in the event of an emergency, no repairs, decorating or alterations shall be done by Tenant without Owner’s prior written consent.

I'd also add Floor and Decor to that list...