I would also highly encourage you to become active in your local real estate clubs if you are not already.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

The guests are horrible, the expenses are very high, and the ROI is awful.

It was highly recommended on a BP thread many years ago.I don't do subject-to's, but just be careful. 

I am looking for an appreciation and to cover most of my mortgage.Also any tips how much such reno could cost are highly appreciated.thank you

Clair-Mel: This area offers affordable investment opportunities with high rental demand potential.

This can get complicated if you are racing against time between getting it sold versus the banks take over.Can you get it sold at a high enough price to pay off the mortgage or is the owner under water?

I have a home that is an STR in a highly desirable tourist destination.

Let's assume you did put a high down payment, on a refinance lenders will cap you at 80% of the new appraised value, leaving you with little to no money on a cash out refinance.

Replies are highly thanked.