❌ Previous Rent: $1,100✅ Post Reno Rent: $2,000 (plus utilities)Original Underwriting: $1,900$900 monthly rent increase$10,800 additional income per year (excluding utilities)We spent $35,000 for a premium level renovation.= 30.8% return on investment (ROI)We target an ROI between 25% - 35%.

That will greatly increase the odds of them giving you a serious bid and taking the time to do it without getting annoyed with you.

Then, the permits taking longer than expected, the repairs budget going to the roof, getting new GCs, the property taxes increase, using the wrong debt and investing alone.

As you noted the appreciation is worse than for SFH or MF, and you’ll get stuck with increasing HOAs that don’t add value.

I'm in WA state and we used to do some of those but don't now that the homestead exemption increased substantially, making it difficult to recover funds if the loan stopped performing. 

I am focusing on the brrrr exit strategy as well but I guess I should have also mentioned that I am also interested in commercial real estate investing as well mainly apartment buildings since I can utilize forced appreciation better with increasing my NOISo I guess my question really is this...

There are a few things you can do to increase your conversion rate such as filtering out recent purchases (look at hold periods greater than 5 years) and looking for properties where it looks like the owner is asleep at the wheal (unkept grounds, low occupancy, poor reviews etc..). 

Demonstrating strong cash flow from the property increases the likelihood of securing financing at competitive rates.Investment Analysis: Investors and developers use DSCR to evaluate the financial viability of potential real estate investments.

The maximum rent increases for Oregon are the lower of: 10% or 7%+CPI per year. 

As you grow your portfolio, your tolerance for exposure will increase.