I ran into some issues throughout the process but overall it has been a great learning experience and at this point, it's looking like it will be quite profitable.As I near the one-year anniversary of this deal, I'd like to reflect on a few hard-learned lessons:-The renovation was slightly more than anticipated but within reason.

Upon reading the leases I have discovered half the leases have rent increase clauses that have never been executed once the tenant reached their 12 month anniversary.   

Strip off wall paper-nuetral paint.Master bath you maybe able to get away with a good cleaning and nice tile floors, master vanity looks okay- maybe more lighting in the bathroom- you could do something about bathroom cabinets- fresh coat of paint.Bathroom small- some caulking, new shower head blah blah- Remove all wall paper- paint nuetral, you may wanna change that soap holder too.

Sheez;  Wife & I just commemorated our 50th anniversary in Nov'16 so obviously we're not yuppies, but stable, mature adults.Those creating Prenups usually end up exercising them - - I wonder why?

I also make all my own soap, using lye (a key ingredient in making meth) which smells terrible (albeit only for a few minutes).

Our retirement planning should be based on assets that produce cash and appreciate in value, not securities that ebb and flow with the 30+ forces we have no control over in the market.Kevin Kaczmarek stepping off his soap box.

It doesn't have to have all your furniture, just a bed a table and a chair will do, a place to cook and prepare food, food stored, a change of clothes in the closet, soap in the bathroom with a towel.

Ahem Let me step onto my soap box . . .You MUST count the cost of management.

I'm 21 and don't want to screw my self this early on in life.all cash-happy anniversary.

A few years ago during the Great Recession, when at last we’d settled down, in metro Detroit, we picked up an almost-new short sale condo in an upscale area that is renting well, and a just-rehabbed foreclosure SFR from a flipper.Exactly one year ago my wife and I closed on our first multifamily property, and I thought I’d use the anniversary to recap and reflect on the ups and downs of owning apartments in a Class B/C neighborhood.