Platforms like Avail can help if you prefer to self-manage but still require time for repairs.Tax-wise, repair costs may be deductible immediately, while major improvements must be depreciated over 27.5 years.

(MTM leases should cost more than yearly leases.)

Our average monthly revenue is $2,675.We have had 46 stays so, $4,600 in cleaning fees (the cleaning fees are included in the avg $2,675 monthly revenue) If we have someone clean it, it costs $100.  

For calculating IRR, use the total cost of acquisition—this would be the mortgage balance plus the 50% buyout equity and any closing costs.Regarding refinancing, assuming the loan under the Garn-St.

How are you planning to fund the rehab costs?

Time and practice will still teach you as you do deals but it will help you understand what things costs for the size of the property 

There is more maintenance cost when they are small keeping the grass down.  

It appraised for $201,000 the other month and I put $103,000 in my pocket after closing costs and paying off the old note.I wish I had about 20 more of those...

.👉 Adjust your expectations—this business is about consistent effort, not overnight success.2️⃣ INACTION IS COSTING YOU DEALSEver stare at a lead and overanalyze every detail?

I'm with you that sidewalk slip and fall litigation may be less likely in the Midwest than say Mid Atlantic which tends to have more litigious cities but dismissing premises liability issues can come back to bite an investor and when these properties have such razor thin margins that an investor must consider the cost benefit analysis of safety against ROI, there is a real estate issue and is usually a losing proposition.