If the unit is a legal STR, it will definitely be in the $500k range.Many people expected to see prices drop significantly after Aug 2019, when the City passed an ordinance allowing for better enforcement of illegal rentals.  

Your return on equity drops significantly.  

Then keep 6 months worth of expenses for reserves, and make sure it can cashflow if market rents dropped 20%.  

Feel free to give me a ring or drop me an email when you have a moment.  

This forum is not about stocks, but I actually find it very useful to study balance sheets and income statements of publicly traded companies in other industries to get a sense for how they manage leverage and risk ... it is insightful to see utility companies leverage way up since their income streams are so steady while tech companies tend to have little to no leverage since their income streams can change at the drop of a hat (good or bad) with new innovations, and yet they can both still be very profitable.

As for what the house needs, it needs a new kitchen and appliances, remodel 2 bathrooms, new lighting throughout, new hard wood throughout, a lot of wall paper needs to come down and repaint entire interior, carpet the basement and reinstall new drop ceiling in basement, power wash house and refinish outside deck.

Drop the numbers into your equation - if it doesn't work - walk away.

Thank you for taking the time out to drop those little gold nuggets of advice!!

It's very common for the temperature to be 10-20 degrees below freezing in Colorado at night in the winter.

However, let me drop some knowledge on ya, as we near tax time.Here's My Example: Your company has partnered with another company, Company B, in a wholesale deal.