I made it clear in an addendum I added to the lease that it was an unfinished basement and any and all improvements that they want to make or do make have to have prior written approval from me or my husband as well as permits and insured licensed contractors for electrical, plumbing, etc.

In order to improve that return on asset you have to either leave the market to go where you can get a better return or you have to leverage. 

If the improvements made were substantial then I might also provide invoices paid to contractors as well as a scope of work to justify financing at a value much higher than my initial purchase.10% vacancy is definitely higher- if you've got a stable property that meets your markets rental demands then I would use your market's going vacancy rate (which may not be representative of your EXACT asset).

This allowing the finances to update and improve the condition of the other 5 homes.

If i were to purchase a 50 unit trailer park, does the rule still apply where i would have to live in one of the properties as a primary residence for 2 years?

Cozy bought by Co-Starof course they say no change, but hopefully they’ll continue to improve.

Cozy bought by Co-Starof course they say no change, but hopefully they’ll continue to improve.

@Wade ReevesDoesn’t meet the 1% rule - pass

The rules for property management may differ from state to state.

Since your current LLC was drafted I can tell you for sure that rules and laws relating to LLCs have changed so in the very least, you would want to research to see if the code sections referred to are still legitimate.