Their properties run roughly 10-25% Cash on Cash return and 7-11% CAP rate.

Congrats on your success so far and taking the next steps to learn and grow more.

They average to about $60-70/mo of expense that I would not have had, assuming a market rate tenant would have stayed the same period of time.

I know some markets are still very hot but it's definitely cooled down a lot here since rates went up 2 years ago. 

Purchase price: $142,000 Cash invested: $40,000 Sale price: $240,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a fix-and-flip on Gibson St, Portland, TN 37148.

Purchase price: $175,000 Cash invested: $1,800 Sale price: $220,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a quick flip on Eagle St, Murfreesboro, TN.

Purchase price: $175,000 Cash invested: $1,800 Sale price: $220,000 Contributors: Peter Vekselman Partner Driven, in collaboration with Seth Choate, successfully completed a quick flip on Eagle St, Murfreesboro, TN.

Yes 100% pro-rate the rent.

We had 85%+ occupancy and higher than average nightly rates, and our financials supported our sale price of $417,000 in October of 2023- the highest selling condo in the entire complex.

There's < 2 months of seasoning for the purchase, cash into the deal is ~$975k w/o rehab (minimal planned so far - turnkey), purchased the property for 35-40% below assessed value, 825+ FICO, and would optimally like to pull out $975K-$1.15M of equity.Main scenarios we've thought of to accomplish this are: 1) structure sale of property from SMLLC to self and secure 30-year new purchase financing on deal (unsure if legal and tax implications if above initial cost basis)2) delayed financing (LTV restrictions a concern)3) cash out refi (seasoning concerns)4) DSCR (seasoning and rate competitiveness concerns)5) one of the above plus a HELOC, personal loan, etc.?