(About $1150 a month on $250k at 5.5%) I also gave them an option, (since they’re family) to either get a cut of the cash we take out when I refinance or a check at the end of each year from the net rent of the property for a 3 years.

It is that much harder to find a deal so good there is room  for you to take a cut.

If you do, how about expanding on your current idea by getting a cute little house near your school and trying it as a short term rental on Airbnb?

Your PM will obviously make a cut on this, they are in effect, acting as your GC or a project manager.  

Doing math on it that way I should be able to acutally make $800/mo cash flow on both units with a new loan.

Then take a cut of the transaction fee.

However, it was always a cute unit, and it should be very marketable with the new updates and especially replacing the tub only with a shower.

We've found its acutally better to avoid people looking for permits to be sealed. 

Sold within two months after acution for 230K.  

The rate is slightly higher because it is a top to bottom clean in a narrow window of time.VRBO- Takes a cut of every rental 3%You also need to outfit the home for someone to live in, which means the upfront cost is higher as you need everything someone living there would have (furniture, pots, pans, plungers, etc).