Is this a start-up business or expansion?

I spent some quality time with my Note Investing mentor at the IMN Conference a few weeks ago.Part of the discussion centered on the institutional non-performing notes being more difficult to source at low levels AND how I’ve been focused on buying upstream for the past year and a half.Put another way, I’ve set my sights on vertical expansion by moving up the food chain.My mentor encouraged me to consider new lines of note opportunities, such as business notes, etc.

The outside has new doors/windows but still needs new siding and to be painted plus a little landscaping.

The place is beautiful - love the modern landscaping.

Current property taxes are roughly $1,000/yearCurrent owner pays $350/year for insurance.Current Tenant is paying for electric and sewer (House is on a well, so no water).We think the property will need $10,000 of work to be ready for a short term rental (Air cons, some drywall work, moving/updating the well, landscaping)Our ideal plan is to turn it into an outdoorsy airbnb with a nice backyard feature. 3+ bedrooms in the area go from 60-120/night with ~68% occupancy on airbnb.

25,000 New flooring throughout, french doors, painted kitchen cabinets, quartz countertop, built backyard patio covering and slab, landscaped front and backyard.

In the last 2 weeks alone I've had 3 small calls for appliance electrical, electrical issues in my primary and landscaping issues. 

With this expansion of interest, some of those in the compliance space - including state regulators that oversee custodians - took a closer look at the code and determined it was not precise. 

Coin laundry is a way to increase income without raising rentLook over any outside contracts to see if you are overpaying for anything like landscaping and snow removal.

Roof to landscaping and everything in between.