I could easily train virtual assistants to handle these payments and have an app created for encrypting sensitive data for facilitating the transactions through financial service partners from my main line of business.

Yes we were successful winning bidding wars 3 months ago using the family postcard technique;) Basically, we added a cute picture of our family along with our offers (which were based on conventional financing) and our “humanity” made us win over the cash offers.

They’re often more willing to work with you on aggressive timelines, especially once you show a few wins.

And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.

Don’t forget to plan for the future, maintain a healthy work-life balance, and celebrate small wins along the way—it’s all part of the journey!

We hope to create a win-win-win scenario for all involved and it's always a learning lesson when that doesn't happen. 

Would this be an optimal win-win for risk reduction + tenant satisfaction? 

The biggest win or loss you are going to have on your STR business will come at the purchase. 

If they are professional, they can explain this quickly and easily.

I think the best thing would be to knock out the line of credit mainly because I’ve been putting a lot of time into getting my business up and running, BUT if I could knock out the renovating before March that would be a HUGE win.