If we waited 12 months and got up to 80% occupancy would have netted an additional $500,000.  

If they’re underfunded, you could get hit with special assessments.Not sure about the exact contract with the tenants, but I assume if there is any additional assessment, it would be tenants’ responsibility.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? 

A HELOC or cash-out refinance on your current rental could unlock additional funds if interest rates improve.

As you alluded to, sometimes a passive note investment purchased for monthly payments “goes south”, and becomes an active participation investment, with plenty of additional capital required for legal fees, forced place insurance, and property taxes.  

Finally, for simplicity, we'll assume that in every strategy the price (or ARV) of the property is $150k, that we're starting with $45k, that we can invest an additional $10k every year, and that we can use any remaining cash reserves to continue purchasing more properties. 

Additionally, forming a new LLC may require obtaining a new EIN and business bank account.This post does not create a CPA-Client relationship.

Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out. 

Once you have cash in hand, you can unlock the unit for 24 hours and let him move his stuff out.I would also consider charging an additional deposit of $500 or something, just to prevent him from leaving all the trash or stealing your refrigerator.

Reach out using the message system if you have any direct questions or want additional advice.  

Moderator, we have no financial relationship with any guru :B ] after we canceled promptly there were no additional billings either time.