@Austin Berlick,There are essentially two ways to outsource the grunt work of “landlording”—unfortunately, both will eat into your margins.The first is to hire a professional property management company—this will cost you between 5% and 15% of rents, plus surcharges for out-of-scope services.

Our seasoned properties with lower costs hung on fine. 

Mistakes that cost a lot of money can happen when you're feeling emotional.

Partner Driven was attracted to the S Homan Ave property in Chicago, IL, due to its potential for a high return on investment with minimal renovation costs.

This is where your costs will come into play.  

Hey all, we recently did a cost seg & bonus deprecation on our STR for about $180k worth of deprecation. 

Purchase price: $285,000 Cash invested: $40,000 purchase Price $285kRenovation Cost $40k (on budget)Renovation Time: 41 daysARV: $425kIf you are looking for a long term or short term rental in old town alexandria or just a small / tiny home primary residece with NO HOA right on King Street, this is your home.Contact with questions, interest, referrals of anyone you think might love it. more photos will be uploaded soon.

. - this leads to management inefficiencies and waste- you have to rely on other people's judgment- you have an overhead cost burden for doing things remoteIt is tough enough to organize a carpet & paint rehab remote (ask anyone who did it the first time), let alone a full-scale BRRRRR.

However, if the high cost of living makes this impractical, you should consider a turnkey rental property.

The contractor will help me get a better understanding of how much the rehab level will cost.