Things to think about:Transient occupancy taxes, inspection fees, business licensing fee, etcUtility costs, which will be much higher than average bc people use your property like a hotelLaundry costsConsumables (tp, paper towels, shampoo, soap, dish detergent, sponges, cleaning supplies, etc)

The NOLA MSA is made up of about 8 parishes and comprises a whopping 1.3 million people.

@Forrest Williams and you can buy the soap to spray on it.

All supplies such as towels, linens, soap, detergent, t.p. are stocked.

Forgot to mention, the downstairs bathroom shower, the pink soap holder fell off, the opening gives you a good view of the condition in the wall behind the tile.

With this comes a litany of questions around the financing...The property is an 8 Unit comprised of 2BR/1B apts.It is located in Morganton, NCI have spoken to a few lenders in regards to financing the purchase of this property and this is where I need some clarification and advice.I have found a lender that will finance up to 80% of purchase price (20% down).  

@Alan Miegel Personally I’d keep the brownstone because it sounds like a property that would be hard to replace with something better on the open market, but if you’ve already decided to sell, the smart move is to take the money and park it in a high dividend yield index fund comprised of aristocrat stocks like SPDR S&P Dividend ETF.

During this time, the LLC has purchased 7 doors (outright- no loans) generating 3700 per month in rents with excellent tenants comprised of 2 triplex’s and 1 SFH.

Setup expenses includes furniture, appliances, cookware, repair services, and some supplies such as soaps, toilet paper, tissue paper, etc. 

Comprised of a few 3-story apartment complexes and a couple dozen attached SFH.