Wow, thats good stuff. 

Was there equal amount of stuff in the garage and back yard?

If so no need to remodel beyond putting in rental tough stuff like hardwood floors. 

I get why it could be useful, especially when I see some real dumb stuff, but it's too easy to abuse.

Unit 3: $800 + utilities Total: $2,825Expenses:PITI: $980General Maintenance: $50/monthMaintenance Reserve: $143/month Other Fees (admin stuff like LLC, registration fees, etc): $70/monthTotal:  $1,243.Monthly Cash Flow: $1,582Cap Rate: 13.5%Cash on Cash Return: 45%I appreciate any feedback or advice on this deal as I am just starting. 

Quick update:I am on module 1 of Kai's landhacker course and boy is it chock full of the good stuff!

Don't spend money on stupid stuff.

Does the 60% the condo-hotel takes include the HOA fees or utilities or replacement of furniture/repairs to the unit like plumbing or stuff like towels and sheets etc?

I fold the letter, stuff it and place the precancelled stamp on it at a rate of 94 envelopes per hour.....takes forever.Add in screw ups (see my post about 3000 yellow letters down the drain) and you have yourself a time consuming, repetitive, completely boring endeavor.If you plan on sending a few hundred a month you can swing it on your own but if your time is worth anything you'll outsource.  

At the time my rate was like 4% and now it’s 10% so agreed with everyone else I wouldn’t do it for long term stuff, but then again I know people who do and it doesn’t seem to bother them so I guess it’s more how comfortable you feel.