Typical renovations include:Cosmetic Updates: Painting, flooring, kitchen and bathroom upgrades, and landscaping.Structural Repairs: Fixing any underlying issues such as foundation repairs, plumbing, or electrical updates.Efficiency Improvements: Adding energy-efficient windows, new HVAC systems, and better insulation to increase the property's overall value.The goal of the rehab phase is to increase the property’s market value while making it an attractive place for tenants.

Paying off the notes, working to pre-emptively make repairs to capex items before they fail or become a major issue think roof, HVAC, and foundation.

Delays, unforeseen repairs, and underestimating budget up front are all much more dangerous occurrences once a gap lender is involved. 

It may make sense for the right purchaser to repair.

Plus, you have to turn the unit over- paint, carpet, etc repairs?

Would be happy to connect via text, phone, or email to answer your questions.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

- What level of repairs are you willing to do?

Perhaps, they can get out earlier such as July so you have time to do the necessary repairs so you only have one month of vacancy.

Specifically, under a properly structured Trust the following limitations will apply during the period that the property is held by the Trust: (i) the Trust cannot raise new capital; (ii) other than in the case of a tenant bankruptcy or insolvency, the Trust cannot renegotiate or modify an existing loan nor can the Trust refinance or enter into a new loan during the period that the property is held by the Trust; (iii) the Trust cannot renegotiate or modify its existing leases or enter into new leases other than in the case of a tenant bankruptcy or insolvency (in the case of a Trust that adopted a master lease structure, this limitation applies to the master lease and not the underlying third-party leases); (iv) the Trust cannot reinvest the proceeds from the sale of the property; (v) the Trust cannot modify or improve the property other than undertaking normal maintenance or minor non-structural repairs; (vi) the Trust cannot hold its reserves other than in cash or short-term obligations; and (viii) the Trust must distribute all of its cash, other than cash held for normal reserves, on a current basis.