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

Quote from @Erick Pena: A "good" rental property is one that covers all expenses (mortgage, taxes, insurance, maintenance, property management fees, and any other costs) and still leave a surplus (commonly referred to as cash flow).Calculate cash flow as: Cash Flow = Rental Income − Operating Expenses − DebtThere's much more to it, but that's the basic idea.

The properties we operate are all in Indiana. 

I was conducting an extremely seasonal business and after 8 years of operation the business was insolvent. 

My questions: - Looking to understand pain points of operating in Indio that you wished you had known - Besides the music festival in April, is there frequent tourism ensuring you are making the annual CoC ? 

You could form an LLC and have the operating agreement that allows your boss to require you to purchase his membership interest (or allow you to purchase his) in a given time frame.

Hi, we are a small operator with 14 doors and Grasshopper told us we can't send texts anymore because we don't have a website.

It's the lenders who usually require that the property is listed under an entity, depending on the state that they operate on.

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).

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.