The fees and overall costs of these loans needs to be a key factor including what if the project goes over time . . . . you can be underwater in no time.Underestimating repair costs and overestimating ARVs based on Zestimates are the next stumbling block.There's money to be made but make sure numbers all work WITH contingencies defined and overages expected . . . remember, a project will always cost more and take longer than initially thought!

With no credit score the interest rate would be based on the lowest credit bucket.

DM me, and I’ll point you in the right direction based on your specific goals!

I highly recommend investing in a property management software, such as Hospitable, for syncing your calendar, automating messaging, and scheduling cleans, as well as a dynamic pricing tool, such as PriceLabs, for optimizing your pricing based on market demand, local events, and seasonality. 

For example:CapEx: $250-300 per unit per year for older properties, adjusted based on age and condition.Maintenance: $500-800 per unit per year, depending on property class and tenant turnover.Make-Ready Costs: $1,000-2,000 per unit for turnover, depending on the scope of work required.Resources and Tools: Utilize tools like BiggerPockets’ Pro Calculator or other underwriting spreadsheets that have built-in assumptions for these categories.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

If the property was in Hartford proper, we would tell you no to management since the tenant base is much harder, it is harder to get rent collected on time.  

Thanks for touching base and let me know if there's room for collaboration on any of your projects or just willing to share lessons you've picked up along the way.

This is based on my own experience, but I think it's similar for most MF owners. 

Is my CoC return solid, or do I need to adjust anything based on my market?