I highly recommend investing in a property management software, such as Hospitable, for syncing your calendar, automating messaging, and scheduling cleans, as well as a dynamic pricing tool, such as PriceLabs, for optimizing your pricing based on market demand, local events, and seasonality. 

Based on your response, I probably need to hire someone just for the Open Houses who is available multiple days per month.

@Allan Guerra, at least in Ohio, you cannot receive a commission based on the purchase price of a property without being a licensed real estate agent.  

Bathroom:Demo & Prep ($750):DIY toilet, vanity, and flooring removal.Professional plumber for plumbing adjustments.Toilet ($250):Standard, efficient model.Vanity & Sink ($900):A modest-sized vanity and sink combo.Flooring ($500):Wall Tile (Shower/Tub Area) ($1,000):Basic ceramic tile for the shower/tub surround.Shower/Bath Fixtures ($250):Update showerhead and faucet.Lighting & Paint ($250):DIY painting.Update light fixtures.Permits & Contingency ($3,000)Total rehab cost: $30,500Amount Needed: $30,500ROI: 45% of $30,500Investment Duration: 30days Profit: $13,725Total payout in 50days: $44,225EMD: The buyer has put down a 20% earnest money deposit based on the property’s ARV and they are all set to complete the purchase as soon as the rehab is done.To find out more about our Joint Venture projects, please visit our website: http://strandparkproperties.comWe're able to guarantee the return on investment (ROI) by finding buyers for the properties before listing them on our website for possible joint venture fix and flip.

I'm assuming this won't be rented to a Section 8 tenant, but I often work with my CFO clients and set a "minimum rent" for their property at the Fair Market Rent (FMR) and usually increase it from that number based on the developer's desired tenant.

Pay the bill yourself, then reimburse yourself by charging the tenants based on a formula.

Hi @Alex Lee I would avoid 203K loan and work with conventional renovation loan based on knowing you'll be forced to use 203k certified contractors which will cost more money and offer inflated pricing because they must follow 203k guidelines. 

Policies like this have a minimum allowed death benefit amount (as specified by the IRS) based on several factors.

Hell I'm still dealing with one of those tenants almost 2 years later.If I were giving advice to someone else looking to do something similar based on my own experience and mistakes it would be to maintain much more reserves, only take on projects of a size and scope you can handle, and to pay the HELOC back to 0 between each project.

My wife and I are investors based in Santa Barbara and have had Croatia in our sites for a few years.