Friends of friends or not, that property is a business and it's not performing.

Both perform very well, precisely because Orange County is not oversaturated with vacation rentals.

pid=1697Houston Real Estate Highlights in January:-Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales;-Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days;-Total property sales surged 15.2 percent, with 5,800 units sold;-Total dollar volume rose 17.1 percent to about $1.6 billion;-The single-family home median price increased 4.5 percent to $234,000, reaching a January high;-The single-family home average price climbed 4.6 percent to a January high of $291,034;-Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months;-Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750;-Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782;-Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598.

@Peter Kozlowski this is why if I have a scope of work to be performed and a deadline to meet, then I would spell out what happens if they dont meet it as well. 

What is the performing Cap rate now?

With a smaller unit, you should be targeting greater then 40%, and most of the well run, higher performing homes do significantly greater then 40%. 

If so, I would perform the mold test to check that box...would hate to have a tenant come back blaming you for some crazy illness later.

.- Don't include any questions about criminal backgroundAfter processing the application, send out a credit approval/rejection letter.If approved, you may then obtain written consent to perform a background check. - If background check passes, send an approval letter.- If background check doesn't pass, send a 'right to dispute letter'

This works because you're maximizing leverage and buying a better performing rental property.I sold a condo that I bought 10 years ago, that at current numbers was a 3.8 cap. 

I’m referring to an employee who is supposed to be performing labour work.I’m sick of paying employees who I know are jacking off half the time.I’m definitely going to be installing security cameras into ALL remodels I do from now on.