Land is zoned Resort Commercial allowing for a hotel, convenience store or similar businesses.

We saw a significant increase to listing prices since Nov '20 (not surprising as this is similar in the rest of CA).We thought we landed on a gem b/c this property had fallen out of escrow due to last buyer's inability to close the loan. 

If you are financing this I would be surprised if the bank would go ahead without it.

And keep rolling that 'snowball of knowledge' over time -- and you'll be surprised how much knowledge, and experience through action, you accumulate along the way.   

You could build one of these sites for <$50 on your own and hire a VA to help with SEO for much cheaper than their cost, but I was willing to give things a shot assuming that investor carrot would be convenient and easy to work with.  

And hey, the world is big and interesting.Anyway, here's what they (digital nomads)need and some of what they want: FAST WIFI above all, after that a little "zoom room" kind of space separate from the general living area is idealclean, simple look. lots of conveniently placed outletsgood places within walking/biking distancebike storage/laundry in unitdishwasherappliances should be and look new and the kitchen should be visually appealing but singles will order out more than they cooklow VOC paint and other quasi-green touches are nice things to add and put in an ad as a signal.

With turnkey property you aren’t going to get a high appraisal because the company has already done all of the improvements for you - you’re paying for convenience.

You would be surprised how run down this stuff can make a place look.

The more assumptions you make when crunching numbers, the more surprised you'll be after closing. 

Wanted to give a quick 2 month update since closing on this 240 unit deal on April 7th.At closing the occupancy was 93%.On April 8th, I increased the base rents on lease renewals and new leases between $20-30.It has been somewhat of a surprise that our occupancy surged after we raised rents.