You’d hit your 2-3 month goal faster, skip the C-Class renovation roulette, and free up time for family and travel.Why rural southeast?

I started my career with the renovations team renovating the houses we buy, and with the property management company working with our residents and our maintenance teams.

@David LewisRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

You then might renovate the property, so it's worth, let's say, $150,000 after 12 months.At the end of the first year you have title to a property worth $150,000 which is serving as collateral on promissory note where you owe about $88,600.

Are you planning on renovating afterwards?

Additionally, it can help maximize renovations and improvements.36.4% of the total depreciable basis was classified as 5-year class life.

There are a few ways you can handle the renovation which all comes to personal preference.

Any tips on balancing renovation costs with tenant expectations when preparing a property for midterm stays?

Turn on any home renovation show, and you’ll see investors turning run-down properties into stunning dream homes—selling them for a hefty profit.

Long story short, you spend a month cleaning and renovating, then you find a new tenant after just 15 days.In total, you lost three months of rent income ($3,000) plus paying utilities ($500).