It may surprise you, but we have always operated under the premise that renewals make us more money than new leases.

If your property management company is good and has built an internal maintenance team which has set rates and had strong relationship relationships with licensed contractor which should keep costs in control, you should never need to shop contractors on your own I wouldn't think.So in short, our policy is give us your preferred contractors upfront if you have them, but then we work all tickets to resolution including dispatch, and payment of invoices.This is of course for operational expenses.  

It sounds like you may be a better fit for a smaller operation that still offers guided tours.

Deduct mortgage interest, property taxes, travel, and operational expenses.

@Jay Hinrichs exactly the risk is even more than traditional development and the profit is actually less with more operational headaches.

With insurance rates going up, best to find areas with the lowest operating cost.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

There's a ton of blue collar and healthcare jobs that are providing a tenant demand for houses in that rent range, and more to come with Blue Oval City expecting to be operable in late 2027. 

Some numbers:Expected 2026 income after raising rents to market value and assuming 7% vacancy: $144k.Expenses: $14k property management, $18k property tax, $10k insurance, $10k utilities, $8k in repairs/maintenance/advertising/admin/etc: Total operating expenses: $60kNOI: $84kBased on 6% cap rate that brings the valuation to only $1.4m, or $1.5m based on 5.5% cap rate.

Does anyone have any advice on effectively setting up temporary battery-operated cameras on a long-term rental property to deter break-ins and squatters while rent-ready repairs are being made before a tenant moves in?