Quote from @Tom Enright: Hi Forum, I'm about to close on my first STR and plan on materially participating >100 hours this year as I'll be working on the property and plan to rent it the last 1-2 months of the year.

If it costs $100,000 to install an ADU and it rents for $1,000 a month, then it may be worth it.

1) don’t forget, in LA you will have a VERY hard time raising rents more than 9% per year.

Most PM software allows late fees to be charged.Ours allows us to absorb the cost of tenants paying electronically thru the software - it usually wants to charge tenants, but we want them to pay electronically.We manually charge tenants a Processing Fee for mailing in their rent, a slightly lower Processing Fee for depositing to our bank.Your success will depend on the Class of your tenants.

Hello,Im working with a lender to refinance into a Fanny Freddy mortgage now that I have stabilized my 36 unit complex.They have asked for a CAPEX schedule, and a T-6, in addition to the rent roll. 

They’ll suggest how much rent they can get, they’ll do the advertising, they’ll do the screening.

I took out a mortgage on the property in November to help make repairs and rent it out.

Continuing on the north coast, another idyllic vacation rental location is Pacific City Oregon.

I've narrowed down the best return for my money in this market to a 2 bed/2 bath (with top tier amenities) - about 500 total 2/2 listings.I'm finding myself a bit stuck when analyzing why certain properties are making so much higher than the average listings when they seem to have very similar locations, amenities, style, flow of home, beds/# of people they sleep, reviews, number of reviews, etc.

@Aubrey Eblin Thank you very much for sharing your experience with the Rent To Retirement Academy.