I am sure we can install more water efficient faucets, shower heads, and toilets but that wold be a cost I would have to run the numbers on.

Mind you he had made the house super energy efficient with all LED lightbulbs, energy star everything and a bunch of other stuff which probably wasn't cheap to implement.One thing I'd recommend anyone do before considering solar is to checkout Google's project sunroof.

I know it is hard to find competent and efficient property managers and contractors, and these individuals can make or break an investor and an individual deal.

I'm planning on closing on my second property in Chicago in January and wanted to get some advice on the most cost efficient way to update this rental unit.

Have maintenance man take emergency calls (what he did with old owner)2) Get a buildium or renttec or appfolio account3) Outsource to my VA administrative stuff (marketing property online, handling general inquiries, fielding tenant calls, fielding prospective tenant calls, scheduling showings)(Tenant screening via buildium/appfolio)(Transferring utilities on turnovers)(Handling documentation (leases, addendums etc)4) Outsource to my VA book-keeping stuff ( Collect rents, balance checkbooks, create monthly P&L statements, pay contractors, etc)My VA is currently paid $5-6 per hourThe only in person stuff left that I can split with my maintenance man is:- Filing Eviction notices / Going to Eviction Court- Showing properties to prospective tenants- Quarterly inspections-Move-in Move Out inspectionsProbably some more stuff too that I cant think of now.Do you think that would be more cost effective and efficient while still not burdening myself with too much work?

Not only will the tenant appreciate having a newer one, it may be quieter and more efficient as well.

You're going to get very few efficiencies of scale.

Also, won't it be more efficient for the utility company to handle that; passing that liability/headache to them as well?

Investment Info:

Single-family residence buy & hold investment.

a 4th floor walk in the a perfect location

What made you interested in investing in this type of deal?
Family business

Ho...

Interior renovation completed using sustainable materials, smart technologies, and efficient equipment.