Improvements will include interior/exterior painting, some minor plumbing, installing flooring, repairing wood stairs and deck, and possibly a wall removal to make into a studio.  

Unit 1: 3br/1.25ba, $1250 rentUnit 2: 1br/Studio (Bedroom, Bathroom, Kitchen); $600 rentUnit 3: 1br/Studio (Bedroom, Bathroom, Kitchen); $540 rentUnit 4; 1br; vacant and advertised for $695Gross Annual Rent before Vacancy: $38,000 Annual Expenses + Vacancy: -$19,000Net Operating Income: $19,000My estimate of expenses + CAPEX reserves and the 50% Rule both agree at about $19k per year.

The articles mentions studios in several markets, the client base for studios in high tech markets has likely decreased alot due to all these factors. 

What I love the most is I can truly relate with your hopeful, studios, executed beginnings.

We have a STR way out in Homer, AK, and three closer to home in King County, WA: A rustic West Seattle cabin on stilts near the beach, a North Beacon Hill studio, and a partially off-grid cabin in the woods in Scenic, WA (past Skokomish, 10 minutes from Stevens Pass Ski area).

I have a client who's done very well with a small detached casita with a studio layout, bare bones kitchenette, and a full size bathroom (all around 200 sqft).

I do it when driving a tow truck, so I get 2-6 hours of listening, and sometimes I will be listening to an audio book, (since English is not my 1st language it can take me 10* to 20* more times to read a book).I'm still a newbie bro investor and got a $65k condo at market price before I started learning about REI.

Technically, these have to be a gym or studio or something that's not officially occupied.

I just moved from Bethesda to a newly renovated 1BR & den apt in Tyson's...I actually wanted a studio but there were none available so I went with the 1br.

I created a generic posting for a Virtual Assistant and a link to a Google Form that I created that was supposed to farm data of willing workers and ask binomial questions such as if they had experience with graphics, audio editing, Excel, English, and how much their hourly rate was.