I fired them and theystole all my bed linens as well as towels and bedbug pillow cases.

Morby then promotes that if you join his group (which is what, $10,000 or more now) he will teach you how to equity strip and break the law and practice very bad real estate investing, just like him.I guess without knowing the circumstances it’s not possible to say that this didn’t happen, i.e. is “made up”, but its sure hard to believe that property owners who had $20k to pay upfront and a house worth at least double the note had no better options?  

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ MilSounds like a great deal.

We just completed 6-unit one bed one bath apartment in midtown Sacramento, CA As we are considering doing MTR, your feedback on how to move forward with this plan is appreciated  

The comps we've been looking at are these:https://www.airbnb.com/rooms/4... (1 bed/1.5 bath, 104.5k revenue)https://www.airbnb.com/rooms/4... 3 bed/2 bath, 124.9k revenue)https://www.airbnb.com/rooms/5... (3 bed/2 bath, 113.3k revenue)We've been working with a local builder to pre-plan, and estimate costs. 

So, he may be double dipping there. 

Typically whatever the material cost is double that to get the price for total.

Fernley has doubled population in the last 20 years. 

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.