https://www.zillow.com/homedetails/114-S-Broadway-St-Toledo-... seller has 'described' it as follows:"The property features a new roof and updated electrical work completed two years ago at a cost of $120,000.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall annual loss.

This is just the normal operating costs, never mind the big things that come up occasionally with capex like when you have to replace a major component (furnace, water heater, sewer line, driveway, steps, deck, windows, roof, doors, siding, landscaping, etc,) and it costs $10-20k.

Lend to experienced individuals who own other rental properties already6. 6/mo Payment Reserves: insure the borrower isn't broke and has the ability to repay your debt. 7. 100% Hazzard Insurance: make sure the borrower secures hazard insurance that at minimum covers your Loan Amount ie "replacement cost".

I used the values from the realtor.com website for purchase information and expenses, and the bank of america calculator to estimate closing costs.

Smart home technology**: Keyless entry, smart thermostats, and voice-activated assistants.Local guides**: Personalized recommendations for restaurants, attractions, and events.Exceptional cleanliness**: Partnering with a professional cleaning service that uses eco-friendly products.Responsive communication**: Ensuring prompt responses to any guest inquiries or issues.What other strategies have you found effective in enhancing guest experiences?

Fire rating exterior walls on structures like these would be another expensive requirement that would continue to drive up the cost housing which is the last thing we need.Here's the code section I found Exception #2

Now it should cost an arm and a leg, but I wouldn't necessarily go for Joe blow, "I'll do it for $200" either, or you'll be getting a call in about four months because all the refrigerant has run out your lines.Is it one outdoor unit and 2-3 heads?

For example, you can buy a $50,000 house that will rent for $1,000 a month, but it will also experience significant tenant problems, expensive turnovers, long vacancies, and other costly problems.

You need to find ways to build more income in your jobs first or you will end up with a 9-5 and a side 9-5 that you can't manage with costs that will go 3x what you think.When you are new, talking about building teams in other areas is like 1-2 years away.