Clear opportunity for improvement How did you find this deal and how did you negotiate it?

Diversifying your portfolio could reduce risk and improve overall returns.Higher Cash Flow Potential: If you redeploy the equity into markets with higher cash-on-cash returns, you could significantly increase your monthly cash flow.

Look at their finishes and what they offer guests, use that as your baseline, then improve upon it.

We added value by furnishing the property, added 2 decks (one for a solo stove, and one for a large hot tub), improved the gravel driveway, mulched the landscape, and added a lot of string lights.

While I’m open to both turn-key and fixer-upper properties, my preference leans slightly toward value-add opportunities where I can improve the property and increase equity or cash flow.That said, I’m also happy to consider turn-key options that provide immediate cash flow if they fit within my investment strategy.

We're improving units, management efficiencies and bringing rents to market value.

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.

Furthermore, it aligns with the growing trend of home improvements that enhance daily living while maximizing investment returns.

The tax benefits refer to the tax deductions from mortgage interest and property tax.The returns mainly rely on appreciation, and the cash flow only improves in the last few years, also depending on securing the 5% refinance rate.I've learned a lot from this forum, but as I start to operate on my own, I'm still not completely confident.