I will show you the true cash flow on this property to give you a realistic picture of the property.rent $2900 - debt payment $2060 - repairs $1450 (50%) - opportunity value $3996 = cash flow -$4606You are losing FOUR THOUSAND SIX HUNDRED & SIX dollars every month.

I would not put ikea cabinets or other knock down cabinets in a million dollar home but in $50k homes I would put them in all day long.

Most private Landlords lose tens, possibly hundreds of thousands, because they don't know how to properly manage their property.If you do real well and enjoy it, you can break out on your own and start your own PM company.

Repairs are usually a few hundred dollars. 

There are hundreds of lenders, brokers, credit unions, even hard money... that's really not that hard compared to todays interest rates.

I would underwrite with Pricelabs so you can get a number that does not include cleaning fees, and go from there. 70 stays seems like it could be really high to me also, it could be your occupancy rate driving down revenue, which would drive down cleaning costs.That being said, low population within a couple hundred miles and a high level of resorts around the area could be driving down your numbers too.

A bunch of finishes to make it look pretty (drywall, paint, floor tile, cabinets, countertops, light fixtures, backsplash, sinks, faucets, bathtubs, etc)Not much else to it. 

This super cute house has new roof, new plumbing, electrical system, interior/exterior painted, double pane windows, ceiling fans throughout, new doors, new kitchen cabinets, new light fixtures, wood floors, granite kitchen countertops, new stove, exhaust and back splash.

Hi, I have seen hundreds of partnership arrangements fall apart, none of what has been described is surprising to me!

the carpet is terrible too,  the fridge is blocking cabinets and there is a giant hole between the fridge and oven. but as long as you got a tenant that likes it,  noone cares what I think.