I am a general contractor in the area, house needs all new windows, and turning 2/2 into a 3/3 and i will be pulling permits.

That means that our options are either to let the lease expire naturally, or to evict the tenant for violating the lease for smoking pot inside / covering smoke detectors and risk having them become a tenant at sufferance or destroying the property.

If you can't run the numbers, come back here and ask again before you pull the trigger. 

Personally I am not familiar with your market but I am familiar on when to pull the trigger.Case in point - I have 8 SFR on 7 year amortizations 7 year term with 6 years 7 months left for payoffs.

I hear that if the property appreciates, yada yada ... you can pull money out and use it to invest on more properties. 

You can also get your local Title Rep to pull out a list of recently sold properties in the area.

Doing so will also make your life easier once you decided to pull your numbers since you will just have to download the transactions from your bank/cc accounts, without having to go thru them and determine which is personal or rental.

Since it's about 250K-300K, and since I don't have that kind of cash myself, I was essentially going to partner with fam & friends and we'd raise enough for the down payment (if I can find a lender who's willing to loan that low) and split the returns.Account Closed Definitely agree with having a list of investors including those who've committed to the deal + backups who are willing to step in in case others pull out.

Cancellation requests, tourism impact, etc.We need a 45%-50% occupancy to break even...Do I pull out out?

Cancellation requests, tourism impact, etc.We need a 45%-50% occupancy to break even...Do I pull out out?