Some investment strategies don't offer such luxury but worth spending a little money up front confirming as that's something your LP's will ask or want to know has been thoroughly researched.  

@Jonathan Small, depends on your risk tolerance and how much you're willing to spend to maintain all of the entities as others have said.

Looking to use it as a getaway from the city, maybe spend 2-3 weeks every 2 months there.

As long as you're financially prepared for a new hot water heater or other new appliance or other expenses that may come down the pike, I would not spend much time thinking about cash flow. 

You're a great addition to the real estate community.

Happy to share any additional insight!

❌ Previous Rent: $1,100✅ Post Reno Rent: $2,000 (plus utilities)Original Underwriting: $1,900$900 monthly rent increase$10,800 additional income per year (excluding utilities)We spent $35,000 for a premium level renovation.= 30.8% return on investment (ROI)We target an ROI between 25% - 35%.

For example, Would they entertain owning two houses, if the FL one supported itself and even paid for their new primary residence, if it brought them income and they never had to spend a second thinking about it?

In addition, 5% to 8% each for maintenance and cap ex would be way too low in virtually every market but possibly not in high rent San Francisco.  

In addition, how much time do I have to find an escrow company before closing?