As such, anything 3+ stories and older, you need to be VERY cautious and understand when and if the study has been performed, what they found, and if there are any resulting special assessments.

As long as their fees are normal for your marketplace, don't focus on the cost of management and the few dollars saved by self-management. 2.

Once you have a clear understanding of your goals, it's crucial to assess your risk tolerance and investment horizon for each one.

I strongly recommend a Phase 1 Environmental Site Assessment (also called a Phase I ESA).

Cap Rate:To assess the overall profitability of the property, calculate the cap rate.

And make sure that all items necessary for you to get the best rate possible from your carrier (like 4 point inspections, roof attachment points, pool enclosures etc) are present or available.One nasty little factor that can't be helped is that every time you buy a property for more than than last owner paid - you will have a tax bump due to re-assessment. 

Richard's teachings on market analysis, property evaluation, and risk assessment have given me a competitive advantage in the real estate market and I am very grateful for that.

As a result, many condo associations are raising dues and issuing special assessments to cover these costs.Impact and Solutions:The combination of new regulations and rising costs is creating a financial strain on many condo owners, especially those in older buildings.

It is good practice in assessing STR potential and performance by combining personal research and rental experiences (rates and dates) with at least one local reputable Property Management company rental revenue estimate. 

I would think and assess if it actually needs a new kitchen (if there are cabinets there already just old, can you paint them and put new knobs on)?