Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

I will insure the property as a non-owner occupant. 

No longer can buyers underwrite to $1,000/unit payroll and $250/unit insurance expense. 

That helps some...but your variable expenses also go up too - property insurance & taxes - so a lot of your rent increases go to offset rising variable expenses.I started at the age of 47 in 2018 and we bought properties fast and furious - 12 the first year, 10 the next, and 9 in 2021 and currently have 38 properties. 

This was my first investment property and I had a poor inspector who missed all the electrical and even though the roof had about 5 years left my insurance company made me do that.

Plus with no state income tax, cheap insurance, and very low property taxes, I’m probably starting $20k ahead of most people, and that’s a tax free $20k.).

The ability to find a good sales price under $200K with low taxes and affordable insurance is getting harder to find but in Oh & IN its still easy.Inventory is strong and the rents are above normal so even though your under $200K you can still earn a good profit.

I have also filed a claim against his insurance company with hope of getting at least our monies from the contract back.    

I guess a flat seasonal fee like any insurance policy, sometimes you win, sometimes you lose.

Judge still gives seller another 90 days to file appeal or whatever.11. that time runs now title company wont insure until we give another 60 days.12. judge signs order and the 60 days the title company starts to run. 13.