As we underwrite, new, small multifamily developments, and lot splits we are seeing that there are cash flow rental opportunities that we’re not there before.For example, a 1200 square-foot house on a .2 acre lot is now able to be turned into a 2, 3 or four unit small multi family with opportunities even to add an ADU to the back of the property.

It was a pain in the arse to run to Ikea and figure out how to piece together New Laminate wood flooring - $.089/square foot.$300Used 24” oven and apartment size fridge.$900Microwave, Sink, faucet, sink hardware $600Quartz Countertop (one 10 foot slab)$300Electrical Materials: wire, receptacles, lights, etc..$400Baseboard (had it left over from another job so $0, but would have cost around $100)New interior door, wood studs, drywall, mud  $300Paint $100Dump Fees $500Misc stuff I’m probably forgetting $500TOTAL COST $12,500Rehab cost per square foot = $25

However, the personal property assets such as 5 and 15-year may be using the “mid-quarter” convention instead of the normal half-year convention.Don’t forget, STR’s have a depreciable life of 39-years instead of 27.5-years.

Insurance is for the "normal" what-if's.

Considering Austin is not a cheap place for housing, would it be normal to pay over $250K+ for a BRRRR property?

Gutter Cleaning: Twice a year, normally the tenants responsibility but often overlooked.5.

Normally with long term rentals though, losses are considered passive activity losses and not released until you dispose of the property.

I am just looking to getting my foot in the door with a multi-family so I have some experience.Thanks in advance! 

Normally I wouldnt expect the PM to do that but if it was $1000, I would at least expect them to get a quote or offer to let me find my own plumber / get quotes. 

Normally we keep 20-30k.So, how old is the water heater?