The median home price in Cape Coral was $385,000 in September 2023, presenting a good investment opportunity. 5) Development Potential: Cape Coral continues to see ongoing development and infrastructure improvements, including new commercial centers, parks, and recreational facilities.

I never ever plan on going after negative cash flow.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

This can offer some liability protection and ease the transfer of the property to heirs.Record keeping:Maintain detailed records of all expenses related to the property conversion and ongoing management.Lease agreement:Ensure you have a comprehensive, legally-sound lease agreement tailored to your state's laws.

This project is still ongoing, so more to come.

I have clients who purchased 11 units and I do the ongoing management.  

The tenants did not report anything that alerted us to the ongoing water intrusion.

I've noticed you didn't make any assumptions on vacancy or maintenance/repairs.Sure the property might be turnkey, but its real estate and things happen & need ongoing maintenance.

The remaining 25% of the gross rent will be absorbed by vacancy losses and ongoing maintenance expenses.When using a lease agreement, the lease agreement amount must be supported byForm 1007 or Form 1025, as applicable, orevidence the terms of the lease have gone into effect.

One-time rehab costs have less effect on you than ongoing costs as a buy and hold investor.