Even though a majority of the custom homes I did wanted tankless because they were cool and green....Most tanks last far longer than the expected 10 years and the new ones are very efficient.....Did a search ...https://www.consumerreports.or...Main takeaways are: 1) they are very close to the same cost to operate per year 2) the payback time on the tankless is about 25 years.....Plus tanked heaters are a good source of water storage in the event of an event like earthquake or such.....

What is the month to month notice period in your lease? 

On Jan 10th (this is the grace period we give this particular set of properties) he didn't have Jan rent.

Some of the challenges:1) Pairing clients with properties that with an affordable plan yield the results the clients need2) Get the property into contract in this aggressive sellers' market with strong STR property buyer competition3) Deep due diligence to minimize property risk during inspection period + create best COE plan to yield the highest possible cash flow + start scheduling post-COE reno work4) After COE, get the hot potato moving- help in any way necessary to make sure my clients get this work done quickly and without complications so they can get their property on the rental market ASAP and start generating cash flow.5) Occasional STR audits as requested (always an option) by clients, to further boost their cash flow, and effectively their home value- based on income approach.

@Brian Kempler In my area (Massachusetts and New Hampshire) Most banks have a 6-12 month seasoning period if you're looking to access the after repair value (ARV) of the property.

You need to define FMV and the procedure to obtain it, there will be disagreements on the calculation, time periods, cost allocations, closing date, etc.

Things to consider: Purchased the bigger lot for $600k under contract for deed with 4% interest for a five year period with $30k downPurchased the small lot for $210k with 3.5% interest with $172k left to pay.

It would be difficult, rare, and frankly not a practice I would help with, for you to place your downleg under contract and your upleg under contract before your downleg is past due diligence period and the buyer's money is hard.

You can often find lenders with no or low "seasoning period," which means you can refinance after 0-6 months after purchasing the property. 

It works out because we have been studying since October 2021 yet there is still so much to learn and that can be done during this period.