Additionally, consider operational costs like cleaning, staffing, and marketing, as they can quickly add up.For management, outsourcing to a professional property manager or leveraging tech platforms for bookings and operations could streamline things, especially if you plan to scale.

On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

At AHP, we sometimes see clean out estimates of $3,000 - 4,000 and know well that a local investor could probably get the work done for $500.                                                                                                                                                                                                  

Now what you should do is contact the title company and confirm if title was going to be clean and marketable.

I feel like it's a space where great operators can really clean up, since the bar is set really low, in my experience at least.

STR management is 20-25% (I would recommend self managing or getting a VA), since income is higher you could probably get away with 5% for maintenance / cap ex but remember you need to cover utilities and cleaning for these units which drives up costs.

There are some vets to the site that also happen to be an agent or PM that are the exception, but it is just an interesting and expected observation.Do what you want, but if you can't go there regularly at first and then periodically after you own it, it's a bad idea.

Inst ($285.00) ($1,943.52) 3/31/2020 ACH ORAM-2910BROUGHAM- Little Pay Mowing Bill Maintenance Expense-Cleanup, blow clean, extra services ($85.00) ($1,658.52) 3/30/2020 ACH ORAM-2910BROUGHAM- JEA Bill Utilities-01/21/20 - 02/19/20 ($59.37) ($1,573.52) 3/28/2020 ACH ORAM-2910BROUGHAM- Crossmen Home Inspections, LLC Bill Maintenance Expense-Locksets replaced and fire extinguishers place at move-in ($50.00) ($1,514.15) 3/28/2020 ACH ORAM-2910BROUGHAM- Crossmen Cleaning Solutions, LLC Bill Maintenance Expense-March 7-10 Maintenance Cleans ($30.00) ($1,464.15) 3/25/2020 Check 3.26.20ALL ORAM-2910BROUGHAM- JWB Property Mgmt Bill Management Fees- ($169.90) ($1,434.15) 3/20/2020 Online Bank Transfer ORAM-2910BROUGHAM- JWB Property Mgmt Bill Tenant Placement- ($1,699.00) ($1,264.25) 3/12/2020 ORAM-2910BROUGHAM-2910BROUGHAM Coker, J.

Also, our properties are commercial so it's not like I'd need to go to a duplex and sweep and clean the place.IMHO my CPA is not conservative at all. 

That said there are some nuances and requirements to property implement interest tracing so ensure you talk to your tax professional ahead of time and keep the funds movement as clean as possible.