I’m not skilled in repairs and live in a high-cost, tenant-friendly area, what would be the best way to invest my money?

.- You close on December 10th- The property is in great shape and does not need any significant repairs- It only needs some paint touch-up and changing a couple of broken fixtures, which you do yourself- You spend the next week buying furniture, electronics and supplies and installing/arranging everything yourself- You also roll up your sleeves and scrub the toilets and sinks and appliances- You put it on AirBnB/VRBO and have your first guest renting it for the 3 days of Christmas- You second guest rents it for the following weekend and leaves before NYE- You personally clean and restock the place between these two guestsCongrats!

The automobile existed for decades before Henry Ford produced the Model T.

-Should I ask for credits to repair? 

As the owner of Oz Realty, I wouldn’t recommend any other property manager in Toledo to take you on.Most companies don’t allow landlords to use their own contractors for repairs due to internal operating inefficiencies. 

Without substantial renovation or repair / forced equity, I doubt that since almost 12 months ago you have enough to do a DSCR cash out refi.

If we find damages, we withhold the necessary amount from the security deposit to cover repair or replacement costs.

Can't the seller disagree to the repair concession?

I know what the rents should be for each of the units (2 vacant and 1 significantly under market), the taxes are listed on the MLS, I’m familiar with the water/sewer costs in close proximity to this building, and I know what percentage to use for my Vacancy, CapEx, and repairs and maintenance based on my knowledge of the local market.

Was able to negotiate some seller concessions based on a comprehensive property inspection and several needed repairs.