That's it, but a) print out a page for each property you think is comparable, b) make the list of repairs long and inclusive of everything you've done. c) Put larger items first like kitchen remodel......and don't just say 'kitchen remodel', list things like 'custom backsplash tile/Bosch appliances/recessed can lighting/pot filler/etc. d) Cite the price/value of the work done, and don't be afraid to be generous.

Pros - guaranteed rent, tenants stay longer on averageCons - more mgmt needed (lease violations), they tend to not take great care of properties (increase maintenance expense or deferred maintenance)

I recommend you do this annually to adjust for utility increases and other variables.

It’s a good idea to speak directly with an insurance agent who understands multi-unit properties to customize coverage for your specific situation.

Cost of value add was $120k, so over $580k of increase above costs.  

Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

@Bryan HartlenManaging low-end properties can be demanding due to higher tenant turnover, increased maintenance needs, and frequent rent collection issues.

Their customer relations person quit and you can NEVER talk to someone in person.  

It is not an easy thing to run a property when your customers are horrible haha.I recommend student housing with 9 or 10 months lease and run STR during the summer for this property while students are on vacation.

In beach markets, in ground pools tend to increase revenue 20% or so.