The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

If I have to buy a last-minute ticket or spend $1,000 or so for notarized signatures at a consulate, then it has a significant effect on my choices.

TIAHi Dawn, regarding your occupancy, with in effective dynamic pricing policy, you should still be able to beat the market while weeding out “bad” guests. 

Also, at this time I had seen properties selling for 10 – 20% over ask regularly.Interest Rate 30 year conventional 7%Homeowners Insurance = $1,000 annuallyRents = $1,800 per monthWhen I looked at those assumptions, I would need to put down $80,000 on this house to get it to hit my cashflow goal of $500 minimum per month which equates to 35% down.Total mortgage + escrow = $1,267.13 per month with rents at $1,800 my monthly cashflow is $532.87.From my experience, after taking out vacancy and maintenance costs you are left with around 73% of that total cashflow number once the rental is established.People have asked why a $500 per month cashflow goal.

We put back most of the money back into our business, as the cost of living for me is covered by the student rentals.

We’ve started talking about the potential for collaboration, particularly to reduce construction costs by building simultaneously.

@Tyson Regier  I agree with Megan, and would add to her list Annual fees associated with each llc to keep current/registered with State.Annual Tax filings costs...

It’ll cover all your rehab costs.

@James Wise MICHIGAN UPDATE: new law went into effect January 2, that landlords can no longer discriminate on tenant income source.

.: Quote from @Cameron Moore: Another example: the average roof in DFW is replaced every 6 years and the average cost is $40k.