The money is spent in the initial investment of renovations, which also include tax incentives, grants and other incentives.Project can be completed in 6 months.TOTAL INVESTMENT: $4 million

thx for the ref John.sub market with good secular trends, good cash flow, and  attractive tenant pool are some initial reasons for exploring Terre Haute.

These tenants knew they were underpaying and only 1 moved initially.

If you have a solid exit you may be able to cash out your initial investment on a DSCR loan to continue to buy more real estate.

Luckily, I didn't need to tap into these funds for the initial work but I have a choice given to me: either have the contractor do more work or have that money go towards principle. 

PCS and the guru has the initials PM right? 

Negotiations are on the table, and even though a interest rate of 7%+ rate is hard to initially stomach it made sense.

I am potentially interested and from the initial conversation looks like something I'd like to move forward with. 

STR and MTR investing is a different animal all together taking you from housing to hospitality and requires more of a time suck than many initially realize. i personally only do long term rentals and students. i do have a property in mind and making the connections to transition it into a sober living home. excited to see how that shakes out. 

All...thank you for responding to Brett Richardson's initial question.