So your $800 would over the life of the rental be closer to $400, $480 if you will be self managing (40% not 50%).Back of the envelope analysis shows you making a net operating income of $5760 for the year if you self manage, a 13.7% ROI if you spent your $35k doing repairs.Learning these quick guidelines for analysis is a good idea to qualify or disqualify a potential property.

Sometimes you get lucky and if the wall was painted underneath with semi-gloss, it comes off really easily.

They prefer carpet or hardwood in the bedrooms.You could possibly tile the upstairs bath but make sure to use non-skid tiles with the grain on top to help prevent slip and falls.If they wear down the carpet just use a cheap top carpet with a good pad underneath and it will FEEL more expensive on the feet to the tenant.

Down here an ocean view can mean a lot more money, so it's well worth it to us.Aside from all the useful stuff, they're cool to operate.

Usually turnkey providers in Memphis are operating in rent-heavy neighborhoods.

We were able to get that one notarized 7 states away and back in time and literally closed on the final day before the buyers were going to lose financing.All in all the hardest part of the flip was getting this notary piece accomplished but now that we learned our lesson on that we should have no problems for the next deal that we find.PS. when I started the flip I was living in Qatar and have since moved to Kuwait had a baby started a new job and stood up an entire new operation for work in a country that we have never done business for.

If anyone has worked with some PM companies that operate in Houston, some feedback/advice would be much appreciated.

Make sure that you each have umbrella insurance of at least $2mm.Recognize up front that partnerships often result in frustration and remorse due to inequities in work performed (that is not property recognized in the operating agreement), differences in opinion on how to grow the business (take distributions versus plow all profits back in), etc.

The first thing to do is to study the basic and general aspects of RE, don't try to jump into some niche area trying to learn how to operate without knowing the basic aspects of RE.

I operate my businesses in a professional way, documenting, and setting standards and rules.Some of you may have missed that I have only heard of this happening twice.