Those numbers are arbitrary unlike taxes and insurance and they vary based on age, condition, area, landscape, PM, and other things.

What condition is the exterior (siding) in?

The rest of the home was kept in good condition for resale.

Market conditions being one of them.

They offer invaluable insights into neighborhoods, regulations, tenant demographics, and market conditions—information you can't get from books or podcasts.The good news is that working with an investment team typically comes at no extra cost.

So we never bought anything that was more than 75% of ARV current condition.

There were some changes to the verbiage allowing STRs under certain conditions in the Open Use zoning district which was a big point of contention in previous hearings. 

It was in rough condition, which limited competition and made it a strong candidate for the BRRRR method.Negotiation: After analyzing comps and repair costs, I negotiated a $420,000 purchase price, which was below the market value for similar properties in the area.

Plus, multifamily properties often qualify for owner-occupied financing options with lower interest rates and down payments.As for timing, here are a few things to consider:Market Conditions: Keep an eye on local market trends.

They assured me all they needed was for the power company to come hook up the power so they can get the HVAC technician in to ensure the HVAC system was good then they can do the finishing touches while the house has Air conditioning and power.