Let's connect and discuss your calculations and explore potential strategies to improve your investment approach.

If you can use some extra funds each month to slowly improve each unit while you live there (assuming they need it and you're able to move into the other unit after 1 year), then that's a great place to be. 

Let's just imagine a scenario where you only have one property, and you don't use any PMSs or apps like Turno, for example.Cleaning and maintenance: 4 hours per weekRestocking supplies: 1 hour per weekResponding to inquiries and bookings: 2 hours per weekHandling guest concerns during stays: 1 hour per weekCreating and updating listings: 1 hour per weekManaging pricing: 1 hour per weekFinances and taxes: 2 hours per monthInspections and minor improvements: 4 hours per monthTotal estimated time per week: 12 hours, more or lessTotal estimated time per month: 26 hours, more or lessIf you do use pieces of software to automate your work, it can be even less.

@Austin Berlick I would get a little more feedback from the past tenants and ask for any recommendations on how you can improve or what they liked most about the place.

In a competitive market like as Charlotte, using different tactics at the same time can also improve your odds of discovering profitable off-market options.

If you do some value add, you'll gain on sale plus have the benefit of having lived there for free for a little as the tenants paid your mortgage, and, there is no carrying cost while you do repairs or improvements - it's your primary home, so you're not losing anything by carrying that mortgage.

Do you plan on doing these improvements before anyone moves in?

So from my understanding from your responses, it is possible to achieve market rates on properties without having to make necessary improvements and additions since units just need to meet minimum quality standard for section 8.

Centralizing your staff and moving parts in a single system will improve your operations and guest experience because it will help minimize the chance something will fall through the cracks.

At 5.75%, I don't know that there a ton of room for improvement in the case of a future refinance, either, so I wouldn't expect the payment to drop by a large amount.