Make sure property is “self supporting” meaning sufficient income to produce some cash flow after operating expenses and debt is paid.If one does that, they are set up for a profitable long term hold.If one invests in a prudent manner and is never in a position where they have to sell, they ultimately win.The top or bottom of a market is never known until 6 to 12 months after the fact.I’m a long term investor - my capital is patient.Here’s a question to ponder:If you could buy a property today for $1M, knowing it’s value would drop to $950,000 over the next year but would be worth $1.5M in 5 years, would you buy it today or hope to perfectly time the market and get at $950,000?

"for $___/year, we provide "x" additional inspections")6) Liability policy that covers tenant intentional damage, criminal acts, and unpaid rent when skipped or evicted (through insurance provider that provides this kind of coverage)7) Financial reports per quarter (as whatever period makes sense to you) (this can allow you to advise the owner on the health of their portfolio)8) End-of-year review of the property to show conditions and suggested needed and preventative maintenance items 9) Preferred vendor discounts (requires a contract with a vendor to give better pricing)10) Eviction protection programs (this is usually done "in house" when you have sufficient number of units under your management to be able to offer this kind of program)11) Legal services (requires agreement with landlord attorney to provide those services at set fees)12) Professional photos option (for enhanced listing)13) Professional, licensed home inspection (this is more relevant for older homes to ensure safety and habitability are addressed) 14) HVAC filter replacement program (this can also be a program offered to tenants)15) Pet and ESA screening through pet screening vendor (helps to streamline and increase quality of screening)16) Client portal account for ease of communication, updates, reports, etc.

My thinking is that since the basement is an illegal unit, we'd put in the lease that the garden can be used for rec space/gym/office space but not as bedrooms, no one should live there/sleep there. 

But I don't know if 1. there's a specific process we have to go through with the city for it to be recognized as a duplex down and 2. we plan to say in the listing that the tenants cannot use the basement as living space, just as rec space/office/etc, but I don't know if that's enough to cover me in the event of a lawsuit for example that there's a fire down there and someone sleeping down there gets hurt.

North Broward Area (Undergoing Gentrification)Type: Triplex Units: Two /1-bedroom units Current Rent: $1,500 per unit, month-to-month leases Tenant Quality: Great tenants, familiar with the neighborhood, payments made regularly with sufficient funds Potential Rent Increase: Neighborhood improvements and upcoming developments suggest potential rental rates could rise to $1,800 - $2,200 within the next two years Upcoming Development: A new $2.2 million road is being constructed in the cityCurrent Market Value: $680,000Current Cash Flow: $1,500 per unit, 3 units totaling $4,500 per month Condition: Needs some work Price: $435 ,000This property is a prime investment opportunity in an area poised for significant growth and appreciation.What do you think?

The main challenge was ensuring these updates were sufficient to attract buyers.

The location defines all long-term income characteristics, including whether your rents keep pace with inflation, the total capital required to acquire sufficient properties to maintain your standard of living, and how long your income will last.There is a straightforward location selection process.

Look for low condo fees (if the people on the board are solid, and there are sufficient reserves).

Note it will take time even if/when sufficient money is allocated.  

I don't lose any sleep at night knowing occupancy has taken a fall this year.