I came up with the consensus from those meetings that it would cost around $40,000-$60,000 to complete a simple gut remodel on these homes, with the variables being condition of sewer lines, roof, windows, and HVAC system.Going forward I made offers with these assumptions and when I got a property under contract, I'd walk it with my GC during the inspection period.

Get as much information from the previous landlord as possible BEFORE meeting them.

There is a REI meet up happening once a month that I go to.

Regardless of where you get the furniture, you need to meet or exceed the competition's amenities.

You'll need to meet requirements like parking and setbacks and might encounter additional hurdles in environmentally sensitive or historic areas.

The Yale Law Journal article, "Zoned Out: How Zoning Law Undermines Family Law’s Functional Turn," highlights this issue, noting that while family law has evolved to recognize diverse family structures, zoning laws have lagged behind, potentially hindering innovative housing solutions like co-living.Challenges for Co-Living InvestorsFor real estate investors interested in co-living, these restrictive definitions can lead to:Legal Barriers: Difficulty obtaining permits or approvals for co-living spaces due to non-compliance with traditional family definitions in zoning codes.Operational Challenges: Potential fines or legal disputes arising from housing arrangements that don't conform to local zoning definitions of a household.Market Limitations: Reduced ability to meet the growing demand for affordable, shared housing solutions.Advocacy for ReformThe Bloomberg article, "Why Are Zoning Laws Defining What Constitutes a Family?"

It’s important to do your due diligence on the specific properties and local market conditions to ensure they meet your investment goals.If you'd like more information on how to finance these types of properties feel free to DM me.

Being albe to disect trades work that will not only meet inspection standards but exceed the investor or owners expectations. 

As of August 17th, 2024, gone are the days that any Realtor can meet you at a property and show you one-offs. 

Think of them more as a partner in assisting you meet your goals.