Isn't our job as REI is to minimize the downs while maximizing the ups? 

@Ugin Rapoport Hey man, hotel condos are a tricky thing (i wouldn't recommend it the people caking are the owners of the whole project and one of there easiest incentives is offering financing themselves to you)So usually due to there desirable locations they are wayyy over priced....on top of that the HOA fees become very heavy if you are not able to rent it out and are subject to rising if the hotel adds amenities or anything of that such and of course not living there (gotta account for vacancy), Secondly the hotel is usually almost ALWAYS selling units (the ones that i've seen in miami and orlando) so when you eventually want to sell you end up competing with them and most likely wont win because customers looking for that type of property aren't in abundance (the fees push most ppl) If you are looking for perhaps at minimal result with next to nothing effort of results of around 2% annually then maybe its alright but other then that....i totally would not encourage (Just my opinion so dont hate me for it lol)

It can be a great way to get into Real Estate investing with pretty minimal risk.

Dont know how huge the holes are, but a 4'x8 'sheet of drywall is under 10.00This part seems like a minor issue, even if you have to bring a drywaller in to replace or patch the holes, cost should be minimal, maybe I'm missing something. 

With an Option, you can push the limits without taking on any risks… or at least minimize your risks with a properly constructed Option Contract.

You need to know the quality of material you're going to put in and how much it is going to cost, then just plug the numbers. 2) People are doing the deals to squeeze as much out as they can with minimal investment.

I'm going to throw out some additional considerations.Your advantage right now is your age and the ability to finance (at historic low rates) a 4 plex as a personal residence, with minimal amount down and use the income from the other 3 units to help qualify for the loan. 

I know turnover is part of the business but I know Mack minimizes the time and cost.

This gives you a guarantee of a minimal rental increase should the CPI calculation be low, something you can't control but with this method you have a "worst-case" floor minimum rate increase you can depend upon. c) If the Tenant objects to the "minimum floor rate", offer to counter with the addition of a maximum "ceiling rate" that the Tenant could be obligated to pay.

We have a clause in our lease that allows us to show the rental after the tenant has given notice to vacate.My goal would be to minimize the vacancy time.