80 - 100K CAD .... so about 50 - 70K USD (maybe cheaper as these sorts of things are more expensive in Canada.That has a hydraulic lift and included the construction of the shaftway.Of course ... you can spend much more[Note:  I originally included a rang of 60 - 80K CAD (25 - 50K USD), but going back to the quotes we had last year to bolt a 4-stop onto an existing 4-story apartment building, the range is more like 80 - 110K CAD]   The 60-80K was for a 3-stop solution at another location.]

Simply plug in your Income, Expenses, and a few Cash Flow items and let the template do the rest.  

So I have 3 days I can dedicate to my bookkeeping.However, I'm wondering do I need a bookkeeper to streamlined expenses going out. 🤔?

The good news is, since its new construction, you won't have heavy capex or maintanence expenses, nonetheless, the cash flow on the property would be non-existant.

But The move from capital expense risk to lower risk with new construction does make things potentially smoother. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

If you can make good money as a STR and at least cover your expenses as a LTR, then it can be a fruitful investment while minimizing your risk. 

Incurred claims and loss adjustment expenses were $20.0 billion".

My only reservation with Condos is difficult and expensive HOAs.

Hi everyone, I'm a long time reader yet this is my first posting in these wonderful forums.In the scenario of a single member LLC owed, owner occupied and self-managed multifamily building, is it best practice to be paid from the LLC for self-managed expenses/labor?