Sounds like you need to have a relationship with a couple of good contractors, 40k for vinyl siding sounds high, what was the material cost.  

Definitely a strong location with great visibility and high foot traffic.Since it’s a NNN,  your expenses are minimal, but if LazyDog ever exits, buildout costs will depend on lease terms and the next tenant.

This normally would not be an issue but the cost of the water/sewer is extremely high in this area and specifically because the meter is a one inch, the costs are much higher than a normal 3/4 inch on a non-duplex. 

The wrong property management approach will lead to the dreaded three:1) high drama,2) high turnover,3) high property damage.Use Household-led Property Management (HPM) developed and perfected for co-living.5.

But the mortgage is still too high. 

While Colorado's market can be challenging due to high prices, exploring suburbs like Colorado Springs or Pueblo, or even considering out-of-state markets in the Midwest or Southeast, can open up better cash flow opportunities.

We stick to high quality neighborhoods and homes and are doing really well with it.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

Key Questions:Would it be more financially prudent to sell the rental property and pay off a chunk of my high-interest primary mortgage (7.375%), and use the remainder for a fix and flip?

I’d also recommend connecting with a realtor experienced in STR investments who knows the local regulations and high-performing areas.