With property insurers’ profitability and trade combined ratios improving, we can expect some relief soon.

She paid us up front for 12 months of rent & then paid herself each month & at the end of year 1 she paid us for another 12 months...she did this until her credit improved. 

If you’re looking at retrofitting to separate heating for each unit (like furnaces or mini-splits), you might be looking at a higher upfront cost, but it can shift utility expenses to tenants and improve your NOI.I’d factor in boiler age and efficiency when analyzing deals and if it’s near the end of its life, negotiate a price reduction or a credit.

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

And it last sold for 3.2 million  now they did add a little in the back and added a bathroom..  684 Encina Grande Palo Alto CA.. lots are worth 2 to 3 mil.. improvements not so much. :) Lol oh ya.

.: @Don Konipol Hi Don, At the point where I am in my business, I am thinking (a lot) about improving and growing my business and profits.

After I got rid of Joey (along with my money), I slept on an air mattress in one of the bedrooms for ten months and worked on the house as much as I could, sometimes paying for help.

Only about $3k was spent to make upgrades and improvements to the property.

However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

If it doesn't improve the statistics in the jurisdiction you are going to have to push to get a report filed.