My contractor wouldn't work between draws so there were weeks when nobody was working on our home or only one day a week.

My contractor wouldn't work between draws so there were weeks when nobody was working on our home or only one day a week.

overall strategy looking for value add upside in occupancy rates, a property that cash flows close to breakeven or breakeven+ vs the debt service, on a corner with strong demos with decent traffic counts and a "draw" anchor ie grocery. 

Obviously there is cost incurred when undertaking a rehab and you have to weigh that against your returns, as a buy and hold investor in a college town (Mankato) it seems to make sense to me to rehab this or at least get it up to snuff and let it appreciate so that I could take more out later, but at what point do you draw the line.What common things do you like to renovate or fix up, and when do you call it quits.Looking forward to reading the responses, thanks!

I have had a few contractors come out to provide estimates however both they and the City are requesting architectural drawings for the next step.

I’m asking for about $220,000 to be distributed on a draw schedule.

If we'd had any draw (relatives in the area, etc)  to a place like Kansas City, or Ohio, we would have chosen there instead since the cash flow can't be beat.   

I'm curious what the actual mechanism is for this, would I need to draw up a lease to lease the property from myself to my llc so that the llc can then allow the property management company to rent it out?

More passive" might also mean just going to actively managing a nicer property that draws better tenants and is newer.  

There was no permits or drawings created according to the seller she purchased it that way.