My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

It feels like there’s always a surprise—whether it’s skyrocketing material prices or finding something unexpected during the demo—that eats into the budget and profits.I know there’s always more to learn, so I’m curious—how do you approach rehab budgeting?

Best regards, This approach is neutral and objective, focusing strictly on the criteria, and avoids discussing any specifics about the applicant’s personal situation.

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

It’s an incredible gift to real estate investors.

Most stop their analysis at LTC leverage which is a flawed approach.

Columbus in particular has been a strong market for both approaches, with solid fundamentals for long-term appreciation and cash flow.

Personally, I'm incredibly ignorant on the subject compared to others, but find it fascinating.

I have flown into north bend many many times I would go on IFR training flights from Aurora and my go to  was first to Newport then shoot the approach into North Bend  which takes you about 5 miles out into the ocean for the procedure turn.. always could find some actual weather there..

Totally agree with your approach!