First of all, thank you for clicking on this thread, there are a million of them out there and I promise not to waste your time.So here is the scenario:Multi-Family property (4 units) - Listed @ $205,000, on market 65 days.Estimated Acquisition: $195,000Realistic rent: $3000/mo ($750/unit)Property Taxes/yr: $5200Insurance/yr: $2400Planned Maintenance/yr: $1200Estimate Vacancy: 5%Down Payment: 25%Management Fee: 8%I have just recently gotten into the concept of REI and I've read all of the forums, blogs, etc. of investors having a hard time trying to find a good deal in the Houston area market, and I found this property quickly, in a public method of discovery with very little effort in about 45 minutes of searching. 

@Ayne CardonaThe percentages are basically a quick and dirty method of saving money for capex, maintenance, and vacancies.

Here is a breakdown of the items they saw that needs attention.Needs minor trash removal; needs mownSupport post trim needs replaced; badly deteriorated; upper trim needs scraped and paintedBroken panes on side back needs replacedReplace fixture on front porch; flood lights on backNeeds some minor trash removed and minor work done220 wiring needs secured;not up to code, needs to be placed inside conduit.Install new furnace filterClean and paint register ventsInstall apprx. 4 door stopsFull interior rent ready cleaning required after all work completeReplace as needed to match all light bulbsSteam clean all carpet; sweep and mop vinylReplace missing storm door, paint interior doorPaint all wallsPaint door; interior shows signs of previous leak, but doesn’t appear to be a current problem; paint interiorSeal gaps in side window; paint all; seals appear damaged on double pane windows; may not be an issueReplace screensInstall two smoke detectorsInstall two blindsTouch up, as neededPaint all window sealsSeals appear bad; paintInstall screenVery old and drawers fall out; should be replaced with new; secure handles, if keptHas several large chips; functional sink otherwiseInstall two strainers Install fire extinguisherPaint side exit doorEstimated cost is $4,000. 

Do you have any idea if the filters actually have to be cleaned monthly?

Are you, or your family still able to find deals that cash-flow using your analysis method?

I feel bad with people making these kind of monthly profits...listening to too many podcasts about using BRRR method and thinking $200 a month is a win....one thing goes wrong at the property and you are wiped out for years on profit for that unit...

It's for an increase in rent 10% only and changing the method of payment from electronic to money order

It depends on your location, size of property, purchase price, nightly rate you can get, your upkeep of the property, and many other factors.If your unit shows well in photos and if you build up some good reviews in the first months, and your pricing is reasonable, it will be consistently rented.We have 3 of them, and all less than 1 year so the jury is still out, but in our experience so far, the startup and ongoing costs have been higher than expected, but all are getting good reviews, so in year 2 (now that they are stable) we expect to do pretty well.You have to make sure your town allows it, and you have to decide if you will manage it yourself and take on that extra work (communicating with the guests and people who will clean/make repairs) or if you will hire a property manager, which can be expensive, upwards of 25%.

You can bill him for clean up costs if you hire a contractor but not the gardens if you did not send him notices to maintain the property during their stay.

If you intend on managing from afar, I would recommend a great cleaning person that is reliable and that you can trust to go after the check outs to do inventory and clean the place up.