We came to an arrangement where any sale price over $1 million, minus construction costs, would result in a profit-sharing opportunity.I’m currently trying to determine the After Repair Value (ARV) for the property but am having difficulty finding reliable comparables.

Be extra careful with your policies and procedures in regards to Fair Housing protected classes! 

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

We go above and beyond when it comes to protection.. starting with insurance coverage, sings in the listing and in the property that there is no guard on duty (as silly as that sounds), putting extra locking device high enough so youngsters can't reach, an alarm/beep system to alert them that door opens for those with small children (or elderly) so they cannot wander out in the backyard with no one noticing and risk drowning.

Hey @Dan ErmolovichSorry to hear you’re facing this challenge...evictions are one of the tougher aspects of real estate investing, and being out of state adds to the difficulty.

Charge extra for an ESA.

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

We have aroun d420 units , and about 200 owners, we are coming off software developed in house, which made it hard to choose because our inhouse software had everything we wanted and nothing extra.