Hi Andrew,I've been investing in Tampa's real estate market for over 20 years, and I’ve found a strategy that has been very effective.

I will recover this cost of new heating equipment in 2 years through the savings of what I paid this year for heating oil.

Water damage/mold/ect. is much more costly to repair than to prevent.3.

Property Details: SFH 6 beds 2 Bath 2016 sqft - Rented by the room.Purchase: 340,000Amount Financed: 272,000Down Payment: 20% (68,000)Purchase Costs: 12,777Loan Type: 30 yearInterest Rate: 8.75%Rents: 3,300**********************Investment Returns - Year 1Cap Rate (purchase) 8%Cap Rate (Market Value) 7.1%COC 1.8%Return on Equity 1.3%Return on Investment 25.1%Internal Rate of Return 25.1%

In essence, after two years I would have turned a $192k down payment into $284k equity (minus agent commissions and closing costs).Net proceeds after selling = $284k - $38k (6% agent commission) - $5k (estimated closing costs) - $7k (cost to hold for 2 years w/ negative cash flow) = $234kAfter selling the property, my plan would be to roll this equity into other investment properties through a 1031 exchange.Questions:Is this a good opportunity?

How do i estimate renovation costs?

Replacing the tub was considered, but it is too costly.

The owner’s $500k liability coverage wouldn’t have been adequate to address all the damages.An umbrella policy, often costing just a few hundred dollars, can provide an extra layer of protection and peace of mind by covering liabilities beyond your primary policy limits.

do you know your building costs?

If I give you a dollar, how effectively are you at converting that dollar into maximum exposure?