For example, what would the cash flow be like after you renovate and lease out at the new rates?

Here's the issue...in most states, if the tenants have a lease, the new owner will be obligated to honor the lease - as is - until end of lease. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Hi BP.I have a tenant who has NOT paid rent for this month (August), rent is due 1st of every month according to lease agreement.

As a property manager, it's crucial to understand the nuances of these fraudulent practices, recognize the signs, and implement strategies to mitigate risks effectively.Understanding Rental Application FraudRental application fraud occurs when a prospective tenant provides false information on their rental application in an attempt to secure a lease.

In addition, you’ll be included in their newsletters for additional real estate investing resources.The best way to leverage RentRedi benefits is for rent collection:Tenant applications and screeningDocument and field maintenance requestsE-sign leases Tenant communicationRenter’s insuranceAnd for Stessa benefits: Property bookkeeping and accountingPortfolio monitoringProperty analytics to track historical performanceSchedule of Real Estate OwnedLandlord bankingTax prep support 

My advice would be, if you truly want to learn the business, lease it up, refinance, pull some money out, and go on to the next one.

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

you've got closing costs, a down payment, rent-ready costs, a month's rent to lease it out... it takes years to recoup those costs. 

Blue Sky was in reality Charles Stultz who worked for Bert and was a leasing agent for Ocean Point.