Certainly replacing a furnace and/or a water heater would require a permit as well as running a new or replacing a duct run.

We require tenants to carry renters insurance as well. 

BTW, my year to date has been on par with last year with ADR up a bit and occupancy down a bit (which I prefer) and my fall is looking stable given I’m in the hurricane prone area of SWFL. 

Well said, thank you for your experience Mae!

You will be able to meet and build relationships with experts in your particular market(s) as well as learn more about how to get started in general.

Take this 💥just-closed renovated property for example💥:With my query of "22757 Charlemont Pl, Woodland Hills, CA 91364 5/4/2400-3050,0.6,300" we get an ARV Estimate that is ~4% off, and I picked this at random just scrolling through recently closed in my areaAnd the Market Stats $/sf of renovated property in that Zip Code matches up pretty well, so I know the ARV estimate is realistic:You can also run Agent Stats to find/get in touch with the real top-agents in that area so you can triple-verify everything and/or list it with them when you are done.With the above, I am able to quickly vet every new deal that comes my way and spend more time on the good ones.

Many of you probably know the „german“ way of doing things...The stereotype would be the punctuality and precision of the people and the public authorities.The reality is the following: a lot of barriers and long approval processes as well as legal restrictions when it comes to owning and handling capital.

If it goes well and you can stomach it, then scale up.

I have done very well in Lorain county Manly Lorain and Elyria

In Cleveland they cash flow well and you can build a foundation of knowledge this way and a base you can expand upon in the future if desired.