Here's a big "math" you overlooked for quite a few years.Right now $388k in equity, minus (let's go all out) $100k in closing costs, gets you a walk away of $288k in equity.Use that $288k as a 20% DP, and you should have $1.44M in property value,...not $415k. 

The reason not to upgrade, is that you won't get that much more income for the cost of the upgrades.  

My thinking is that by renting to a residential care facility I can effectively utilize all the space, earn above market rent, and help provide a needed service, while avoiding tenant parking jams. 

If a prop is 250k and you can refi at 70% LTV you want to get it at 175k minus rehab costs.

A good landlord understands that vacancies & Rent-Ready costs will destroy your cashflow and profits.

If you have not heard of the Dunning Kruger effect, look it up.

I use buildium which is a good value and I think the integration with tenant turner alone saves triple the hours needed to be worth the cost.

The guy on Youtube that boasts about buying properties with no money out of his pocket and using other people's money from his "community" to pay for closing and carrying costs, said in a video in June that he had 10 Due on Sale called in AZ alone from Jan 2024 to May 2024.

Several economic factors are contributing to this shift:Overbuilding: Some areas of Charlotte have seen significant overdevelopment, leading to an oversupply of rental units.Tighter Money: Rising interest rates and economic uncertainty have made tenants more cautious with their spending.Tenant Behavior: Many responsible renters are choosing to stay put rather than take on the cost and hassle of moving.What Does This Mean for Landlords?

I'm not satisfied with not filing the rental in an LLC simply because it's more simple and might cost me an additional filing fee .