It's an extremely clear lease clause, tenant gets discount based on painting of rooms landlord chooses.

Over the last (3) years I have seen some extreme cases of expedited equity where an investor buys an older home or "Ugly Inventory" and then bats clean up on the ARV in 12 months.To give you an example I helped an investor refinance her home in 2023 pull cash out to buy a $65K home all cash.

There are tougher requirements to satisfy underwriters and there are actions to take to fortify your home that can lower insurance.

I'm just suggesting you be well informed:I loved reading Robert Kiyosaki's "Rich Dad Poor Dad"... it was extremely informative and eye opening... albeit told in a bit of a crazy way.  

If that's not the monthly income, you are arriving at your cap rate by using incorrect expense ratios/expense figures and/or the property benefits from an extremely favorable tax abatement which skews the operating costs.

The current owners have extremely low occupancy and are open to selling.

.: EM doesn’t seem extremely low, just kinda low.

.  ;-)  I created an EXTREMELY specific business model and repeated it.  

While it’s not impossible to close in mid December and still meet all requirements of the STR loophole, it will be extremely difficult due to the nature of hitting 150 hours, having it rented for 15 days or greater and having the avg stay be no greater than 7 days and not a decimal more.

When it rains or hails a metal roof that's is open to the living area is extremely loud.