One city near me is checking all garage enclosures, giving nice notice to get them permitted, which they may or may not grant, and if you don't get it properly permitted by December 31, says they will start fining people. 

Although the forum input can be helpful, you need to have proper legal precautions in place rather than opinion.

You've possibly stated in writing that you (may have) violated several laws ie. working as a property manager w/o the proper licenses etc. 2.

In fact if you don't do proper due diligence some are "traps" with bad layouts, fire damage, and tiny sized lots. 

@Kyle Carter we manage around 700 doors, with 92 of them being S8.When S8 applicants are properly screened, they can statistically perform a decent amount better than cash-tenants.

Not every lot will allow you to STR even though sevier county and the city propers do have specific zoning that allows it so you don't have to worry about them ever rescinding that right. 

But again, there is a charm to older properties, because if they do have the proper envelope a great structure, and the ability for a functional layout, they can have a lot of potential. likely a full gut...

Hello everyone,I am about to start writing out offers and I wanted to know the general opinion on how to find proper comps in the area when calculating ARV.

: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.

Have you ever had a year where your insurance or proper tax’s went down?