Real wealth creating by using leverage (not debt) appropriately. 

A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

Hey @Caprice Watkins, so Sheboygan does have some STR regulations. 

The sales comparison approach is typically done for residential real estate and will be less appropriate and come in under value because there are no good comps, and even an appraisal using the income approach (unless the appraiser is trained to do more complex commercial appraisals) is probably not going to be the most accurate either because they typically use market cap rates and in this case you don’t have good comparable income properties to find the market cap for the analysis.  

Research local regulations thoroughly, as towns often require permits, owner occupancy, or restrict rental days.

I'm not sure which places are best to focus on with rules and regulations getting strict in some places. 

I think different approaches are appropriate for different landlords especially based on the size of their portfolio.

These would be bare rental units where tenant builds to suit or we could with appropriate rent charge.

Ensure you understand local regulations regarding permits; it’s usually a good idea for your associates to form an LLC for liability protection, but individuals can do renovations as long as they pull the necessary permits.

Likely they will only allow you to live in the property once you refinance out of the debt due to rules and regulations, but you can always ask!