If the nat'l home average is roughly $400K and agents make 3-4% per side, you're looking at $12-16K year 1. 

It is definitely a rough ordinance though.

Renovation is 46k and is being done now and roughly 4 weeks from being done.

The plus side is the airbnb supply has fallen and we have noticed a HUGE increase in our gross STR rents, roughly 20% higher then a year ago.

Jack MillerI have not had any tenants not pay rent, but I have seen rents soften for multi family and condo rentals (roughly 5-10% decrease in rental rates). 

Much older than most of the other listings I'm into but the rough numbers indicate it would be pretty profitable (+$2,000/mo).

I also make sure we're above our minimum reserve target, which is roughly $1-2k per unit.Call me simple but the bank account doesn't lie.  

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

They informed me that there was roughly $5k of past due assessments from before my ownership. 

Because with a note on the property, roughly 26K remaining on a seller financing note, If a receiver decides to go forward with in a similar path to rehab, how does the city create allowances for notes on the property.