I'm a contractor based in Maryland and DC, so the renovation aspect is well within my expertise, having done numerous projects for other developers and general contractors.However, I'm facing a challenge when it comes to choosing the interior design elements, such as bathroom tiles, colors, sizes, fixtures, etc.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Maintenance is one of the biggest challenges, maybe even #1, in the Property Management industry.Seems maintenance is, Never Fast Enough for Tenants, or Cheap Enough for Owners!

@Jerry Zigounakis here's some copy & paste info we hope you find helpful with your challenges!

Approach them directly.

We’ve found this approach fosters trust and creates a solid foundation for long-term relationships.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

As with most people starting out - having the 20%-30% equity to put in the deal is the challenge. 

Why ask: Learning how your mentor handled failures or setbacks will help you gain perspective on the full spectrum of risks and challenges in the field.

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