After multiple phone calls and emails, I delivered the following email regarding my PreREO note purchase:  Hi Karen,Any update on this?

Focus on key areas first (like floors, walls, kitchen, or bathroom), which may help you handle the costs more gradually, even if it means moving in furniture or updating fixtures down the line.Also, since the tenant left it in rough shape, be sure to document all the damage (photos, receipts) in case you decide to pursue reimbursement through their security deposit or in court.

If you are organized enough to forsee hang ups and talk with your GC about potential challenges on a regular basis, two brains are better than one.

I can also allow a tenant to grow with me - just moved a family from a two bedroom to a three bedroom apartment.Personally the only reasons I would choose to invest in multiple markets is a) because I wanted an excuse to go somewhere regularly or b) for economic/geographic diversity.I had the advantage that my home market was good.

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

Set up a basic system to manage your listing, update it monthly, and always ask guests for feedback—and don’t forget to casually ask for that 5-star review!

My wife and I spend a lot of time together, we take vacations regularly, and I prioritize my health by working out 3–4 days a week and getting 7–8 hours of sleep most nights.

Exterior UpdatesScope of Work:Repaint exterior for modern curb appealRefresh landscaping (mulch, shrubs, and flower beds)Power wash driveway and sidewalksReplace front door and update hardwareEstimated Cost: $12,0007.

Timely because January 31st is the deadline.Sending 1099-NEC (formerly 1099-MISC) to contractors and vendors2024 update: While not directly related to sending 1099-NEC forms to your contractors, you may have seen the panic on social media about every $600 electronic payment reported to the IRS under a new law.

Speaking of which.. what’s your plan if the property needs more updates than expected..would you hold it longer, or look for other creative ways to make it work?