Purchase price: $1,625,000 Cash invested: $358,000 -17 Unit Mixed Used Multifamily Asset-15 Rental Apartments ranging from studios to 2 bedroom flats-2 Commercial Storefront both on mid term leases to 2026 (Flower shop & American Indian Cafe)Value add opportunity by raising rents over time with slight renovations.

In fact, I just got flowers yesterday from an old co-worked who wanted to get into investing.  

Never ever ever ever again. ever.When they want something from you, they demand immediate action (Ex: Calling at 10pm to tell me my tenants had put a small yard gnome in the flower bed outside their door, demanding its immediate removal.)But when i requested that the dry rotted outer door jambs be replaced (per by-laws stating they are responsible for "from the studs, out") It took nearly 6 months of emails, phone calls, threatening legal action, and finally petitioning to have the president of the HOA removed.

I would also get a fresh coat of paint on that wood siding and plant some nice shrubs and flowers along the entire width (under all the windows around the front of the house) and freshen up that landscaping - it is the very first thing people will see when they pull up.

@Joshua Flowers

We are big fans of the team at Freedom Title in Flower Mound.

So here are pros and cons of managing yourself.Pros:  you keep all profits (except 3% to credit card company), get to know guests, create a rapport with regular guests, make it personalized and memorable for your guests (my housekeeping staff was great and would leave flowers for anniversaries and balloons for bdays)Cons: Phone calls late at night sometimes, dealing with guests who are nasty and ignore your rules (ie no pets/no smoking, but it's nice having damage waiver in place), trial and error finding right housekeeping/maintenance/HVAC/plumbing people.Going with a property management company pros and cons:Pros:  they deal with all the issues and reservations callsCons: they may not be as attentive to your property as you would be and don't follow through with rules of no pets/no smoking.

In fact, I'm usually able to get 10% more rent for a unit in the spring - the weather is nice, the flowers are out, and the overall value of the unit seems higher - so they are willing to pay more.  

If things were so perfect where they were, they should have stayed.Move down here, buy your flowered shirts, and enjoy your drinks on the beach...can't beat it.

Same with the liquor store, gas station, or flower shop.Before you think I'm a cruel human, I plan to give away $60,000 in charitable contributions this year.