If you buy a turnkey property you have very little chance to force appreciation  so you have to wait and pray for values to increase (not good).When you run your numbers in AC remember to leave wiggle room for flood insurance most of AC needs it and increase your turn over budget for when tenants move out. 

Most new development is well over this mark and, since there aren't likely to be many more complexes built that offer decent living conditions for lower-end rents, there is probably some room to raise Class B/C leases in the coming years as more people move into Louisville.And, if things do decline, the "luxury" crowd is going to be looking for cheaper digs. 

I have a property that I rent by the room and I collect ~25% of the monthly rent as a security deposit.

I would also explore the different rental strategies- long-term, medium-term, short-term, or rent-by-the-room.

Now the PM is telling me we have mold in one unit and the laundry room, plus cockroaches (another $2,000 to fix).

And it's awesome in the winter.https://www.airbnb.com/rooms/47450032

One year Belgian DJ dubstep duo Ganga White Night was playing Red Rocks Amphitheater and booked, they loved it so much regardless of the plastic wrapped balconies, locked cabinets and pink elephant themed baby room that they asked to rent it again the following year.

There is less room for error.

From the beginning, I rented out 3 of the 4 rooms while living in the remaining room.

. :)Touche'   My Grandfather had a hardware store there in the 30s 40s and got in on the Grand coulee action.