Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

I wasted too much time trying to piece it all together and when you're in different states it's all the more challenging to make sure everything is legit.

@Matthew C. this is definitely a dilema and I'm sorry to hear you're having these challenges. 

Challenges?

I know this is an unpopular opinion around here that you won’t see on the front page of the daily BiggerPockets newsletter, but it’s the truthI get where you're coming from, and I think you make some good points about the challenges of the short-term rental (STR) market right now—high housing prices, mortgage rates, and fierce competition.

I’d love to hear from others who have navigated similar challenges or have insights on improving profitability in the short-term rental space.

Both applicants lost their homes due to the hurricanes, which led to credit challenges.

Real Estate is rewarding, and challenging.

Hi everyone, I recently purchased a rental property in a condo managed by an HOA, and I’m dealing with a challenging situation that I’d appreciate advice on.

Accepting any payment will make eviction more challenging but some states/localities prohibit you from refusing partial payments, so you have to know your local laws.