Centralize your back office / use remote employees / VA where appropriate to cut costs and improve service levels / responsiveness.  5.

Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.

My suggestion to improve your cash flow is to find another bank/lender.

Have you contacted the Zoning Department to review the survey and ask what your subdivide options are with the existing improvements?

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

I hope things continue to improve for you.

Buying for $40K and selling for $80K with no improvements doesn't make any sense.

I was overwhelmed with projects at the time but paid $35,000 and sold two years later without any improvements for $125,000. 

A good manager can improve performance for a mediocre investment; a bad manager will kill a good investment.

Hi everyone,I’m looking for some guidance on improving the performance of our short-term rental, and I’d really appreciate your insights.