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.  

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

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. 

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

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.

Ditch the red rug, increase art and add dresser, bedside tables to bedrooms.

At that time, i will have the knowledge and network to expand and build my portfolio at an increasing speed and then it will be part of my growing pains for my business.I will most likely have that CPA do my returns for the real estate and then have my Tax Accountant still do my Personal, helps with Checks and Balance and cost savings.Do you have cost segregation, or anything like that on any of your properties?