Full market update on my YouTube channel.At first glace it looks like the cheap houses in the rough neighborhoods are ideal for BRRRR, but the back end appraisal is the issue.

So, it becomes a much more palatable transaction with a ton of upside.He sent me the rent rolls and all the expenses, all rents are at market rate or slightly under but all units have so much growth to have with updating outside/reno bath/kitchens.

If you can definitively prove that the seller intended to deceive you about the square footage for their personal gain, you may be able to take legal action, but probably low chance of success considering you had ample opportunity to measure the home or get an appraisal with measurements prior to closing, and had your chance to negotiate the price based on square footage and all other factors prior to closing. 

As long as you're making a good faith effort toward getting vendors out, getting estimates and keeping the tenant updated they just have to wait on your process. 

The property does need carpet, paint, and some simple updates.- Create LLC in the name of the address of the property.

Then you will be well positioned to maximize the rates during your busy season.Alternatively if you list during busy season, you can get more bookings when traffic is up, but you will have to drop rates to compete with properties with ample reviews.No good answer, really as it is painful either way, but it is a preference on how you want to do it.

I'm less interested in updating a property at this time.Thanks again for any clarity on this!

Getting insurance is very tricky on older buildings and a lot of older condos won't have enough reserves to pay for updates for the certifications.

The pro of this strategy is that you can buy a bigger property with more uunits, and the cons are that it will probably need some updating and turnover of tenants to achieve market rents or higher. 3) STR - Short-term rentals or Airbnb.

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