Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000

@Jon LaBorde An estimate like that is going to be useless for you because it depends on so many factors.

Professional Deep Cleaning – Before listing, he had the property deep cleaned, including carpets, baseboards, and bathrooms.

Some mortgage providers that I've found include Milo, BlockFi and Alchemix.fi.

October is a popular conference month since the weather is usually nice in most places (including Vegas!)

Risk Mitigation StrategiesThorough due diligence: Always conduct thorough due diligence on any property before investing, including inspections, appraisals, and market analysis.    

While this can maximize leverage and ROI, challenges include getting lender approval for seller financing, high carrying costs, and the pressure of short-term loans.

However, I notice that Personal Injury is not included and I'm thinking that may be important to have for a Short Term Rental.

It's not my biggest concern, but it is a factor.

Alternatives include using a 1031 exchange to buy a new rental property or completing the exchange first and then doing a cash-out refinance to fund the ADU.