In both of these cities, four of the top five source cities are higher cost.

If it cost you say $50k to build out a detailing space and you receive $600 monthly rent double net then you’ve got a 14% ROI.  

Factor in property taxes, insurance costs, and maintenance expenditures to ensure your investment aligns with your financial goals.Take Advantage of Financing Options: Explore FHA loans for owner-occupied properties or conventional financing options tailored to multifamily investments.

I can't recoup the cost of a 15K hot tub replacement by raising rents really high.

Mid-priced cabinets at Ikea are perfect for a STR and would help lower costs for you!

You will also have added costs because the primaries that are currently mortgage free will now have mortgages.

All of your equity will be eaten up by closing costs alone  

We thought about doing a cash out refinance which would give us roughly 40,000 after closing costs.

As a flipper, you are trying to control your costs to maximize your return on each deal.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.