These are amortized payments that include a return of principal each month.

Job included inside work of leveling floors, installing flooring, paint walls, kitchen cabinets, etc in both units, as well as lay a new driveway, fence the back yard, provide attic fans, and install electric to the crawlspace to add lights and a sump pump.

My cost basis for my properties are consistently off from my tax returns because Stessa will include everything in the basis even though it shouldn't be.  

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

It’s still a worthy strategy to force cash flow that’s rare to find in SoCal, especially if you can reduce the cost of construction by doing a conversion/using an ADU grant or even buying a property with an existing ADU In general, even if the ADU valuation matches your cost including grants, they are usually not worth it in southern CA in single family zones. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Future deals should include a 10-15% buffer for unexpected rehab costs.- You should consider some other lenders.

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

Managing a property can be incredibly rewarding, but it does come with its fair share of challenges—especially with the recent shifts in Rhode Island legislation.In 2024 alone, 39 bills were introduced, and seven significant ones passed, including extended rental terms, mandatory fee disclosures, and other updates that every landlord should have on their radar.

. $69k for a 3 unit with gross rents of $2k a month and total expenses of $800 a month which included management and capX.