It’s usually something they take on as a necessary evil given its nature of importance for out-of-state investors.”

The contract included: a bedroom to bathroom conversion, recessed lighting on the second and first floor, new kitchen, new powder room, and new vinyl plank flooring throughout the first floor.

If this was a standard rental process then yes, I'd recommend going through the process of applications/screening steps, a background check, and then require the deposit; since it sounds like the house is being rented to transient workers though, the very nature of the work situation calls for a bit more flexibility on the renting end.

My experience of human nature is that if he already has the money, he's less likely to be concerned about his performance and if we're happy with him or not, etc.Another option is to wait until the summer months where the service calls are 3x/month, and then let the vendor opt to take the $550 average per month - that way we have the leverage if he decides to quit early or if we're not happy with the work - if anything, we would owe him money instead of him owing us service.So one factor is who has the leverage.The other factor is if there's a benefit to having the monthly costs consistent every month - does this matter to you as an owner / property manager?

Total gut jobs or light cosmetic fix?

All of my properties are walking distance from the light rail making it a quick ride into the city.

Hi @Steve,I am a hard money lender in Denver and thought I would jump in and shed some light on a few of the thoughts and concerns above.

Light fixtures.

Now if someone chooses to take on mom and pop retail tenants versus strong regional to national tenants then a landlord can have a headache if they do not know what they are doing.It can be natural for those owning SFR to get comfortable with multifamily as you are essentially taking a bunch of houses or units into one or multiple buildings and an easy concept for most to grasp.

If you're looking still looking at class A you should look into areas that are restricting new construction (or where development opportunities are naturally limited).