Planning on living off of the positive income and then eventually on our investment.

But, sometimes waiting and stacking cash for another opportunity is the best plan. 

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!

This knowledge is crucial when planning co-living projects.Engage with Local Authorities: Work with city planners and zoning boards to advocate for more inclusive definitions that accommodate co-living arrangements.Monitor Legal Developments: Keep an eye on legal scholarship and policy discussions that may influence zoning reforms favorable to co-living.By staying informed and proactive, real estate investors can navigate the complexities of zoning laws and contribute to the evolution of housing policies that support diverse living arrangements.For a deeper dive into these discussions, you can read the full articles here:Bloomberg: Why Are Zoning Laws Defining What Constitutes a Family?

I run a MTR out of my primary bedroom and would be happy to connect and chat about your plans and what my experiences have been. 

Look for properties with value-add potential, plan renovations carefully, and use tools like the BiggerPockets Rental Property Calculator to analyze deals.

So instead of waiting for the problem to compound until the lease is over, the plan is to replace the carpet immediately rather than try to muck with cat urine and get it 80% clean with various other solutions.

An example is on one permit I had plans for electrical, plans for gas, plans for AC condenser.

•Contractors (especially if you plan to add value).

That is our plan with all but 1 property.