Hi Jonathan,Congrats on your first big renovation deal—it’s an exciting challenge!

For us that's 15% off the top line 

That 4% cap rate on in place financials is a lie.  

Trying to get a split level (not a lot of sqft) on the market in the next three weeks and trying to decide on whether to open the wall between the dining and living room for a feel of openness or leave it as I have heard from two interior designers that the open concept is on the way out as we are more at home and liking our separate areas in the home.Pragmatically speaking the opening of the wall will be mostly a time drain with it being a load bearing wall and having to support the ceiling while rebuilding and all the drywalling necessary.

Others have hit it on the head.

If you aren't planning on ducting, then mini splits can be the way to go.

(No mortgage on any).the cash flow is a total of $3,100 a monthDo portfolio loans exist for these kind of situations?

hyper forcus on one area and go under contract directly with the sellers.

Basically, more than a certain amount of STR and MTR in the same building were considered a hotel and I would have had to have 24/7 staff on site.Were you able to get around that with the local municipality?

Our focus is on mid market 50-100 unit's but happy to help.