Capex is usually lower, around 2-5%, since major replacements like roofs or HVAC systems are far off.

My allocation I mentioned above is purely what I would do based on my current financial situation.  

Congrats - would you ever buy in this market for pure investment purposes or do you think its mostly just a good market for a owner-use vacation home?

Updated backyard with artificial turf, painted entire exterior of home, replaced carpet with vinyl planks.

The best way to position yourself for a successful 1031 exchange is to be as proactive as you can when finding your replacement property.

I've replaced specific details with 'xxxx'.Terms of Payment (interest only): On or before March 15, 2024, Borrower shall make a prorated interest payment for the month of March 2024 in the amount of xxxx per day beginning on the date of execution of this note through March 15, 2024.

I'd like to slowly move towards the investment and property management to hopefully replace my W2 income, slowly but surely. 

We've got many clients that buy them as pure rentals also. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.

This GP's ability to move fast and replace bad apartment managers, read where the market is going, and engage (call every LP and explain the situation during a capital call) has led to millions of investor capital being lost.

Purely an unsecured promissory note.