As far as how to find a property that has a basement apartment or a property that you can convert a basement into an apartment… this may be somewhat difficult. I

We have charged $500 as a damage deposit since day one.I am of the belief that they need to have some skin in the game.

These help me weather a storm with low STR occupancy numbers like many are facing across the country.Higher insurance rates, STR permit fees, labor costs for repairs and cleaning, regime fees (for condos) make running a profitable STR even more difficult.  I

Your brain is going haywire and your body is simply trying to do all the changes and still fit into your skin.

They would require skin in the game (cash) and your analysis on a specific deal before funding 80-90% of the purchase price + construction costs.

Although maintaining triplexes or quadplexes could take a little more work than maintaining duplexes, the benefits of having greater rental revenue may exceed the difficulties.3.

Oh one more tip, ask specific questions, like who is going to not say “yeah im great with communication” , be wary of this trap too because you want the PMs to focus on doing their jobs rather than answering 20 emails from each investor each week, time is our most valuable resource please don’t take up too much of it, when you say “yes” to something you are also saying “no” to something else (opportunity costs)Questions to ask:- what is the eviction process like after COVID 19 in your city (ask for details and differences beforehand)- what are the city rental regulations, what is the process to obtain a rental license, how would you rate this city compared to surrounding cities on difficulty with this process and working with landlords- how do you handle late fees and payment plans, if a tenant calls and says they’re going to be 5-9 days late but have been on time for 6 months what is your response- if multis - how do you handle tenant conflicts- why do they work in property management and how did they get there- if you could invest in any city in the state where would you and why (I love this question because it will tell you if they know where the most profitable areas are for investors and ROIs and hidden costs)- how is water/water bills handled in this city

Learning what you are good at is an important step towards success, not learning this is why some have difficulty.

I understand the inherent difficulties and I appreciate the warnings some of you may offer, but I am specifically looking for anecdotal takes on past deals and attempted deals.

Your difficulty and cost will be based on many factors.