Communicate expectations upfront—because once they start double-parking or treating the place like a frat house, it’s game over.Cameras, Cameras EverywhereYou’d think adults wouldn’t steal each other’s food, right?

@Fulati PaerhatiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The primary requirement is that the expected rent would cover the mortgage on the home - and that expected rent is typically determined by a combination of the appraiser and some service like airdna (a site which determines fair market rent).

There will always be posters who come out of the woodwork who claim to be able to beat terms or meet borrowing expectations.

I would expect to be at 90% full myself or worst case 85% since it would be in a better location. 

Over a 3 to 5 year window.Our self storage developments we expect a 400% COC return in 2 years.  

Ideally, you are looking for places where everyone is expected to network like local reia meetings.4.

Two thoughts - 1) We have seen the Blue areas become much more regulatory, as we would expect from that mindset...but yes, I gotta agree, I think it does cross the line in this case. 2) Not all neighborhoods resent STRs. 2 of my STRs were in neighborhoods where they were actively welcomed.

When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

Here are key adjustments:Kitchen ($50k): Likely $60k-$70k for custom cabinetry, quartz, and premium appliances.Bathrooms ($40k): Expect closer to $50k-$60k for four bathrooms with high-end finishes.Flooring ($20k): Likely $25k-$30k for engineered hardwood, refinishing, and tile.Exterior ($12k): More realistically $15k-$18k with landscaping and a quality front door.Misc.