Also, how frugal can you be with the $185k W-2 income, could put X away towards the reno each month - it sounds like a longer-term project, so that could build up over time Yup I would personally never lend on a job like this mid project.. you dont know if it was done right if all the vendors are paid etc..

Great job on grabbing this and adding it to the herd.

I applaud you in that you are going to use this Arbitrage job to earn funds to buy a future house.

Racine is certainly a nice residential area, but I would be sure that the Airbnb demand is adequate before entering the space.

I live in Miami now, but own/operate a STR in Stuart close to downtown.TBH, when I was looking in the area, there are some nice houses on Nettles island, but occupancy rates and ADR were not super convincing for the price point.

At this point, the property exhibits completed updates, increased revenues, and appreciation.So, the best use of investor capital is to sell the property so that they can seek their next investment project.Once the sale is complete, investors get your original capital back, plus a percentage of the profits.While slow & steady cash flow can be nice, selling the property allows investors to multiply their equity faster over time

My wife and I don't have jobs and we do our own PM.

(Im able to get into this thing for only 10K the cash on cash return is absurd from 37-56% (depending on closing paid and points i pay, its an 8% Cap, 350 cashflow (after variable expenses) Brand new.. seems like a decent first step but the functionality.. a Perfect nice 3/2/2 1400 sq pft per side is 575k , this one could be 365k if they accept my offer i sent last night)

Find out which works for you.Pre-screening might be nice with this strong rental market. 

He is beyond taking advantage of my "niceness".