I don't know if this is a rule of thumb, but it's what I usually do when skimming properties at a high level.   

They should be doing at least 2-4 full remodels on their own per year on the high end.

@Hector MejiaNevada is a great state to invest in because it's landlord friendly, no state income tax, lots of job growth, and positive population growth. 

Obviously, we don’t expect this magnitude of crisis to return any time soon.Reason #2 is that high interest rates are causing some buyers to step back, with others choosing to wait for more favorable interest rates.

Paid $235k Budget is $510k for the build (high end build) ABV(after build value) $1.1milSo permits took about 1.5 months.

The CAP rates aren't great, the vacancy rates are high, majority of multi-family locations are in areas with unreliable tenants.Overall, it just seems like it's difficult to achieve reliable passive income here. 

Use it for high pricing 60 days out then as booking date gets closer you adjust your price watching the bookings of those around you.

On the other hand, if you're looking for appreciation, Columbus is booming with population growth and a strong economy. 

Doesn’t make any sense, auctions are high risk already.  

I wanted to post about occupancy, I know there is a wide variety of occupancy levels and ADR information out there but wanted to share mine and hear what others are doing.Seems there are several schools of thought - drop your rates and high occupancy or high rates low occupancy.We have 29.9% occupancy and an ADR of $633 per night.