I have a handful of applicants that are willing to pay above what the unit is listed at because of pet rent, and one group even offered higher base rent.

Oh, did I mention that they decided to have a pet even though they signed a 'No pet' lease.

acquisition fee (usually 5% if you're buying with partners or investors) Credits at closing ... repair allowance (maximum of 5% at most banks) prepaid rents (if closing on the 6th of month then 25/30 of rents go to you) first & last months rents (if charged to tenants; less whatever was used from 1st Months)Security deposits (go to you at closing) Pet deposits (go to you at closing) Income ... 

If that’s the case I may buy a fixer upper to live in with a bigger yard for us and the dog, and maybe do the same there, fix up and rent when I move on or sell depending on what works best.

Don’t let the tail wag the dog.

@Damon D. to put it bluntly, this condo is what many investors would call a “dog.” if you put 100k into it the ROI would be what 3%?

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

I was thinking of allowing pets to increase income.

@Ayden WaltonTo become a bird dog, the first step would be to reach out to local investors and see what types of properties they want to find and in what neighborhoods.

So far I haven't found a deal, but I had someone contact me asking if I needed a bird dog (someone to find leads) and if so how much I'd charge.