One final comment.

I think it's okay to not have a deluxe backyard, see what the market is demanding.We didn't want to or have the funds to do a full renovation, Here are some things we did when we got our primary ready to rent:-Tore out fiberglass tub and surround in master bedroom-Had new tub and tile surround put in (felt nicer for primary bedroom suite)-New toilets and all new faucets-Hired guy to resurface all kitchen and bathroom countertops-Took down popcorn ceiling and had resurfaced/ painted-Neutral paint and trim throughout (had different colors all over prior)-changed out washer hook-up valves to prevent issues Things I wish we would've taken care of:-regular yard maintenance hired out and baked into rent-LVP flooring throughout (kept mix of tile and carpet)Just did final walkthrough and got keys this morning for tenant moving out.

However since I built the relationship, he allowed me on the property to fix chipped/peeling paint and waited until OCTOBER, which was when I finally got to the closing table.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

Basically you need to be able to pay a large part of a long-term (multi-year) lease up-front, then still have some cash for renovation and interior/furniture, to finally recoup the investment through STR and a hopefully very quick way.

.), the location, depth, and capacity of utilities to service the site - including public utilities (sanitary, storm and water services), franchised utilities (power, gas, cable), capacity of the local streets to accommodate additional traffic from your development...Be sure to find out if there are any specific local ordinances you need to satisfy (possible tree & wetland surveys, together with any necessary tree & landscape or wetland mitigation plans) and whether there are any concerns from municipal departments (e.g. hydrant locations from the fire department, storm inlet and retention requirements, as well as asphalt / concrete road requirements from the engineer), entrance requirements from the road commission (left turn and passing lanes at the site entrance), etc.Once you get past all this you can finally prepare a preliminary site plan and enter the political arena to get preliminary site plan approval, and to address any concessions the board and neighbors want from you to overcome their objections to your development.

A little over a month after they moved back in, their insurance company said they needed more information to finalize the claim, which is when they requested the report from our plumber. 

My final point would be.

Finally, speed is important—moving quickly on the rehab and resale can help minimize holding costs and increase your profit margins.