@Dennis Solari You are going to have to run the numbers on any property you might be interested in.Then you need to look Vrbo and Airbnb and see what properties are renting for and how often.Put all this in a spreadsheet and add in utilities, furnishing, consumables, cleaning, PM (unless doing this yourself), yard maintenance, house maintenance, tax and insurance and see how the numbers shake out.

We painted all the rooms and cleaned the carpet.

My partner and I are in negotiation for a 6-unit property in NE Ohio, below are details: 4 rented, 2 vacant / average rent $735 (4 rented units $720, 2 vacant $775)Owner pays water, sewer, trash2 br, 1.5 bath, roughly 900 sfGarage with door + extra parking areaRoof in good shape, air and furnace in good shapeRealistic gross all units filled: monthly $4,400 / yearly $53,000We walked through both vacant units, very clean and basic.

Paint, Floors, Plumbing, Garage Roof.

If the property is currently a meth lab, the condition of the prop alone should deter anyone from buying it (unless these meth guys are extremely clean and responsible).

Purchase price: 280,000ARV based on comps and realtor’s assessment: 430-450,000Work needed: new floors throughout, update kitchen, update bathrooms, paint, repair plumbing, new roof, furnace, water heater, add 2 bedrooms and 1 bath in the basement, secure deck.This is my first deal and I’m somewhat overwhelmed so ideas/advice/feedback are welcome.

Thanks to all of you ...I currently use a rental company but was curious as to what of those who do their own rental and hassle with cleaning and maintenance between customer stays did.I pay 20% and my HOA is $750/ month..making it hard to make a profit

And you should appreciate that they are bringing these things to your attention and not you walking in 6 months later to a rotted out floor because the fridge was leaking and they didn't say anything about it.

Had just been painted, new flooring, newer roof/HVAC.

If you're looking to sell it as a single family home when you are done you might want to think about what you're doing to the floor plan by adding the bedroom.