Also known on the inside by all the commercial brokers who are just waiting to unload marginal properties on new guys and of no interest to major players.Also you will get killed if you try to do any of this remote.In my case I am delighted with my duplex portfolio and and now gearing up my "handy" lawn guy to be legs on the ground as I think of my next move - which will be to blow past the small marginals MF's into something boutique, but bigger ... very hard to do.Good luck.

Never thought I would be doing STR.Challenges include(d): shortage of help, booked out contractors, distance, lumber price hit, product shortages and back orders, blowing my budget.Sacrifices: camping out/sleeping in rehabs.

I found it through another local Realtor investor (owner).He listed it and was unloading it.Most ugly, and problematic tenant occupied house on the block.Negotiated it in person.

Most likely, they do have a clause that covers them for an increase in materials and/or labor (like lumber earlier in the year). 

Hopefully you didn’t feel too many effects from the $1800/foot board lumber prices.

Adam, have you thought about an acquisitions brokerage depending on how bad you want to unload them.

You probably won't get basics like lumber, but you can get tile, flooring, lights, faucets at a discount.

Or we can buy a decently updated sfh and perhaps build an ADU, but the costs associated with that (lumber, permits, etc..) are probably just as exorbitant. 

It literally consisted of one trip to Home Depot for lumber which cost me about $300 in materials, $200 to pay my handyman to help with the work this 5” tall gal couldn’t physically muster, and about $150 for the termite company to come back and spray and inspect.  

🔽A drop in lumber prices has invigorated demand for commercial building projects, especially for multifamily product, Sherwood Lumber chief operating officer Kyle Little told CNBC last week.