Helped my clients partner up and close on the property, then signed a net lease with a SL operator.

We operate in the DFW, San Antonio, and Houston markets, helping investors grow their portfolios with turnkey LTR properties.

It’s a well oiled operation to collect money then give you vague updates and excuses.

Assuming a 40% expense ratio, the net operating income at the current income level would be around $19,440 annually and $28,800 after renovations.At a $360,000 asking price, the cap rate based on current NOI would be 5.4%, which is low for a park with park-owned homes and required renovations.

I’m a long term rental guy, so make less than an Airbnb type operation on cash-flow .  

I'll actually answer your questions instead of going on an emotional rant like the poster above.The only caveat is that I'm speaking to how things work in my region, and how wholesalers operate around here.

Does your company only operate in Memphis or plan to expand to other markets?

Im a medium sized operator - 46 units- and my typical deal has an ARV from 200 to 230 when its finished.

Unfortunately, no one is "allowing" them to operate, @Stylianos Kalamaras.

Here's the City link for you to reference. https://www.chicago.gov/city/en/depts/doh/provdrs/homeowners...1) ADU regulations specifically exclude Short-Term Rentals so don't do it if the intention is to short-term rental. 2) The ceiling height oh 6'10" is almost guaranteed to trigger digging a basement if you want to formalize as an ADU unit, especially if that height is further reduced by pipes or HVAC. 3)Ingress/egress is an issue for renting, as is that any bedroom also will need two (ie operable window/doorway).