These updates made the property highly attractive to tenants.

Many investors have had to get creative by emphasizing other property perks, like pools, proximity to local attractions, or unique experiences, to offset any beach access challenges. 

Keep in mind that inexpensive properties are inexpensive because they are less desirable properties in less desirable areas and attract less desirable tenants.

Areas like Logan Square, Lincoln Park, and Pilsen attract renters due to their trendy amenities and access to public transit.

MTR attracts a lot of traveling medical professionals and WFH individuals who need a quiet space during the day, which may not be compatible with families living in the attached LTR.

The ROI is attractive at 16%, but ensure ARV aligns with recent comps given market trends. 

If you can rent 3 units for $2,000 you are close to breakeven.On the plus side, you will have a highly attractive asset and several decades without much cost of capex and repairs. 

Before committing to paying off the property, analyze whether there are ways to optimize revenue, such as better marketing, adjusting pricing, or upgrading the property to attract higher-end guests.Return on Capital: If you pay off the mortgage, the “return” is essentially the 7% interest you’re saving.

There’s a strong demand from investors who specifically seek Section 8 properties for their reliability, so it can make the listing more attractive to the right audience.That said, managing Section 8 properties isn’t completely hands-off.

The exterior got a fresh coat of paint, and I added modern fixtures inside to attract buyers.