Please give details on how you structure your offers on cash deals and the layout of the contract.

Rich, you are right that I did not lay out the cons, I only mentioned the main two which were:but location is key and your competion is fierce in most areas.

This is a combination of listing design (layout, quality furniture, amenities, themed spaces), marketing (professional photos, social media, extremely open communication with guests), and the use of pricing software to increase overall occupancy.

Also, don't forget a 2bedroom with the right layout/sqft can become a 3bedroom and really add some equity/value.

What @J Scott said.A few others to keep in mind- weird, bad, "unique" layout-close to train tracks, cemeteries, airports-on a busy/loud streetI wouldn't say these factors are deal breakers but they might limit your buyer pool when it comes time to list.

I suppose that would depend on the layout and residential builders requirements for land development.

As an office, the layout may need to change.

The first rehabbed house was in the market for one year due to a lot of mistakes I made. 1) decide the house value for sale; 2) buy a wrong house with poor layout, small master bedroom; 3) the listing price is too high (165K at beginning and finally lowed to $138K to sell it). 

Making a kitchen or bath layout more functional or flow better, adding storage, etc.- that's what make a home sell fast- you want your buyer to walk in and say "OK, this is it". 

You almost have to try it first because the layout and exact location of heat source will determine how the heat distributes through the house.