Numbers always look good on paper but between holding costs when acquiring and renovating property, closing costs on can also add up.I am not saying it cannot be done, as I did it with about 75 loans in a very similar fashion (except I was buying NPL's and got them reperforming).

I'd love to connect if you or any clients are ever in need of financing for rentals or renovations!

I purchased and renovated a house with a separate legal mother/daughter apartment that I am preparing to Airbnb here in Central NJ. 

Sounds like I can safely write them off only after I purchase the rental and start the renovations to ultimately rent it out.

Long story short, the properties were far from turn-key and required that I find an out-of-state contractor and property manager to complete renovations and find new tenants. 

Renovating usually means you need money to renovate.

I recommend researching the average appreciation over the past 10 years in your target area to get a clearer picture.As you know, in real estate, ROI comes from multiple sources: Home Appreciation:  Reno Appreciation: Value added through renovations or improvements (usually just in the first year).

First off, I really like how you’re thinking beyond just the renovation.. you’re creating a tailored investor strategy that builds excitement around upscale features.

Most of my units only cash flow a little bit but because I bought smart and have renovated wisely there’s not much maintenance and very little time-suck for me.

@Polat Caglayan very ambiguosu question, but read the helpful info below to guide your next set of questions:)-------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?