I agree with your logic, the rent increase is irrelevant and separate from the renovation.

That means there will be a separate budget bill later this year that will go through reconciliation.

Dealing with the condo has taken a huge emotional toll on my mother and she wants to sell.

Gross revenue estimated at 75k a yearCONSsusceptible to moratoriums, rent loss, tenant damage, etc. need to build out separate areas and separate meters - adding about 30% to rehab budgettenants can be a huge liabilityPROsMuch more hands off than a B & B businessImmediate cash flow right at rehab completionTried and tested biz model, high demand area - units will rent the first dayIf you've made it this far in the reading, I greatly appreciate any input, ideas, perspectives are so appreciated! 

When you rent to three students, you can still charge more by the room rates since they are all separate.

Yep - try to separate personal assistance (which might be necessary) with business decisions (which has a cold, calculated bottom line).

As a means to do this by separating my career from my business, after graduating I began to listen to the BP podcast, among others, and read any book about real estate investing and finance I could get my hands on.

It’s a 3 family, with 3 separate units and a large lot of land compared to all the other water front cabins with quarter acres.

Hi BP,I am just realizing the importance of keeping business and personal accounts separate.

@Jessie Xu  Yes, definitely open a separate checking account and use a separate credit card.