I turned the dinning room into a third bedroom, got the property insulated, added a washer and drier, replaced some old windows, and converted it from oil to gas. with the upgrades I was able to charge more for rent and same money on utilities.

Account Closed  Agreed must buy multiples run them for 3 to 5 years then figure out were your at.And its one of the reasons Multi is a little easier to gage usually your buying something that has history track record and unless and owner cooks the books you can get a good feel for actual's ...

The book is called "Investing in Real Estate Private Equity: An Insider’s Guide to Real Estate Partnerships, Funds, Joint Ventures & Crowdfunding" (written under his pseudonym of Sean Cook).

I’d be afraid they would cook the books to keep rent low.

@Amber Saulsbury Are you or your partner in the oil industry?

The same capital partner and I decided to purchase and get the next one started...like a well oiled machine.

Many of them oil related. 

Some of the things that aren't as necessary for a STR but very important for a MTR:Washer and dryer, obvious reasonsDresser drawers so guests don't have to live out of their luggage Fully stocked kitchen since they'll be more likely to cook mealsLocal recommendations that locals use rather than tourist spots

In the 70s, it was oil that caused negative ripples through the economy.  

As I continued to work with clients that had money, and was able to glean wisdom off this retired oil CEO I realized that being a simple sales agent was not a great career path.