I plan on purchasing mf in the downtowns of the cities surrounding Houston, mainly those with a more “Americana” type of feel( white picket fences, 4th of July block parties, neighbors worship together, founding families are still around and they let you know it, high walkability score, families are out on the street with neighbors, doors are unlocked.....)It is tough to comp certain property because they might be the only type (or one of the only two) AND some of these towns do not allow any more MF to go up, so the MF owners set the market.

That way you can take that average $200-$400/turnover out of their deposit if it has more than normal wear and tear damage (broken pickets and etc). 

Thank you Bigger Pickets members, I look forward to this discussion!

I plan on purchasing mf in the downtowns of the cities surrounding Houston, mainly those with a more “Americana” type of feel( white picket fences, 4th of July block parties, neighbors worship together, founding families are still around and they let you know it, high walkability score, families are out on the street with neighbors, doors are unlocked.....)It is tough to comp certain property because they might be the only type (or one of the only two) AND some of these towns do not allow any more MF to go up, so the MF owners set the market.

You need to have want is commonly called “skin in the game” which means a combination of cash, equity, out-picket expenses already spent on the project, joint venture partner, cross collateral-able property etc typically equaling 20% of the loan size lent.

(I'm so sick of painting....)Exterior: Added shutters and headers on all doors/windowsNew cedar fence (surrounds property - put cute white picket with arbors in front!)

Another potential liability issue and likely code violation: The pickets on the deck are spaced too far apart. with 4 steps, you need handrails.

The one thing no property manager I've used does that I wish they would is take the time to walk the property like the owner would every once in a while -- find the maintenance items the tenant never complains about like the back door frame needs painting before it rots or vinyl floor starting to curl by the cabinet and could use some caulk before it's ruined or fence pickets loosening.

How about a darkish green facia & gutters with merlot shutters and front door.

Millennials don’t care about the big yard big house and white picket fence .