Hey everyone,I’ve got a friend who own’s a very large home with a pool, and is trying to find someone who can be her short term rental manager.

The plan is to come in and improve the NOI over the next 12-24 months then implement a strategic cash out refinance and move to long term permanent agency debt.

I have a guy that buys single family homes at $150,000 no rehab puts 20-% down and rents it the next day long way to invest but he has been doing it on the upswing and now just refinance the older ones to buy the next ones.

And then I didn't call for a long time while we tried to manage out of state for the first year.

I’m wanting to know there are specific things I should add into the contract before beginning the work, ie: terms, payments, timeline, etc.

In terms of new construction, a couple things to be aware of in San Luis Obispo County are water shortage issues and development fees/taxes which can significantly increase the building costs.SLO city and the neighboring cities are particularly diligent on their water usage, as most of the county's water supply comes from three surface water reservoirs and a groundwater basin.

But in terms of cash flow I like this more than an EV charger or renovation.

Particularly if you owned the property for a long time, much of the capital gain is due to inflation and should not be taxes.David KrulacBigger Pockets Podcast #82

Investment Info:
Mixed-use building

Purchase price: $405,000

Cash invested: $20,250

Mixed use investment. 2 residential units with 1 storefront

What made you interested in investing in this type...

Although you are talking about a lot of startup capital and a long time before you have a property ready to list.