Quote from @Jim Doyle: Ask.It is very common to offer a price, then negotiate repairs or price reduction based on what you discover during the inspection phase.

I'm remodeling in phases, so two tenants got 30 days, two (including tenant referenced above) got 90 days, and 1 got a re-lease offer.  

@Eli Joffe the most general but applicable advice in your situation is to start focusing on high cash-flow properties with low equity growth potential in the beginning in order to have the cash to boot strap.Once you have a few properties under your belt, then start phasing in nicer homes which tend to be lower cash-flow with higher equity growth potentialThe former helps you boot-strap using more labor and the latter helps build wealth more passively and with less tenant struggles.

A vacancy might take a while to fill if it happens during an adverse phase of the cycle.  

During the past 10 years, we have worked with a variety of large institutional clients in all phases of SFR including: acquisition/disposition, renovations, leasing and management.However, Auben's model is deeply rooted in a strong local presence in each market.Our goal is be local, while also offering an institutional grade service and back-end support.I am excited to welcome two new divisions into the Auben ecosystem as of January 2024, Auben Capital Partners and Auben Development.

First time poster here…I just found the bp site this week after diving into quite a few of the podcasts recently.I am brand new to this area and am in the learning and evaluating phase right now..

A lot of people are hesitant after Maui just signed bill to phase out 7,000 of the STR units over the next 2 years.

And in some cases, they're not grandfathering in existing permits - they're phasing them out.

2) Our lender does not require a Phase 1 assessment.

The 87% number was always the minimum net that they would accept for properties that entered the Extended phase and had not yet been reduced.