When I said size doesn't matter as much I meant for STR you don't need massive rooms, larger common areas, etc.If you went MTR you might go further away from RTP and go for higher bedroom count, for less appreciation on average.NOTHING about this post is gospel.

I think there is a common misunderstanding that licensed contractors cost more.

Slow beginnings are common in real estate investing, and building momentum comes with intentional planning and leveraging your resources effectively.To gain traction:Evaluate Equity: Review the equity in your owner-occupied home and rentals.

So, the common person may ask - well how is me funding the rehab myself any more risky for the lender/why would they want to limit leverage?

This is a common 'trick" we use in flipping.

I also received a letter from the county saying that my property is in violation of several health and safety codes. 

A common mistake in my area is to ignore Hotel Occupancy Tax.

To give you an idea of how we approach it, we assume the worst-case scenario right from the start is 9-12 months of no rent, $5,000 in legal fees, and an additional $5,000 in expenses to deal with moving their stuff, putting it in storage, and dealing with health code violations or NOV's from the city during the process. 

We require a local veterinarianreport confirming the animal is healthy, properly vaccinated, and,require spay/neuter unless contraindicated by the veterinarian.Animal will be on a leash or in a carrier in common areas.

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything?