Its "cash and carry" nature and reliance on personal connections create significant barriers to entry, especially for individual investors or newcomers.

This is a natural pressure release valve for high rent and prices. 

The appraisal indicates the rents will cover 1.1 of the PITI, and the credit is good, with 20% down, solid savings, and a W2 earner (a beautiful lending profile).

At the end the beautiful thing is not the destination but the journey.

Flooring: A lighter or mid gray lvp to compliment (~$3 sq ft material) Cabinets: White shaker style (Lowes/Home Depot, Readily Available with little lead time) Countertops: White Quartz with black veining to match black matte finishes if the return on investment is there or just a nicer laminate (calacatta marble natural stone look)Finishes: Black matte for a modern look or the classic brushed nickel.

Hi Arya,To appropriately model this, in my opinion I would add a minimum of 10% vacancy due to the commercial nature of the building.

However, their 38 page Prop Mgmt Agreement for OneRate is daunting--it lists many exclusions to their obligations such as any damage caused by force to a surface (whether from tenants, animals, roots, wind or other force of nature, etc).

There are companies that are vertically integrated that can walk you from start to finish with the investment so naturally the interests will be mutually aligned.

Not to mention that I own log term this beautiful house in a nice suburb of houston, where all the big components are brand new and expectin Lessons learned?

A lot of this is based on human nature.