Robyn Thompson will be discussing Flips and vacation rentals, Zona law will have an update on evictions and Alan will be doing the Market update. 

Definitely what Zach said by starting with an updated state-specific lease and being consistent with following it.

So, I had the idea of BRRRRing with a low down payment (3-5%) on a fixer-upper single-family home that only needs cosmetic updates.

We spent $5,500 to update what was a 55-year, one-family-owned house.

Asking is 54k, my contractor said it would be 80-120k to completely update the property (it is vacant, mostly cosmetic but still run down).

-Ensure it is safe (electrical updated/grounded)-Install new LVT flooring.

@Bryan BerriosMarket rent goes up regardless of whether or not you update the property…

Should I look at this every year to see if my depreciation basis is updated?

However, the house is in need of additional updating and renovations, so I'm wondering if we should put the money in to this house or sell it and purchase 2-3 properties in better neighborhoods. 

Keep us updated on your progress, and good luck!