Since the very beginning I knew that there was not a lot of room to increased rents, my target has been stabilising the portfolio at $800/property/month (I have some $1,000’s and some $700’s).

I first became aware of surety bonds when signing a rental lease at a large apartment community in one of our country's overpriced coastal cities and was presented with a choice - pay the customary one month rent equivalent for a security deposit, or pay less than $200 for a surety bond which would pay the landlord for damages at the end of the tenancy.

I've done my research thoroughly but I jiffy can't seem to find specific #s and lease amounts that I should negotiate with for a lease of this type on my area.

They last longer, look beautiful, have value, and can be sanded and refinished.

Next, if I was hiring a property manager, I'd give him/her my EIN number once the LLC is official so that statements at the end of the year are easily completed by my accountant for K1's and Schedule E's. 

I have a development and construction company and used unlicensed subs a lot of times when I know the quality of their work.With the 30k budget, it is doable for touch up and re-sand/paint projects without major changes (depends on sqft as well).

(grinning.. you have to know the #'s and some Accounting, and what to do!)

Quote from @Brad Sand: Quote from @Aswin Easwaran:  The in-law is connected to the main dwelling through a door and I was wondering if I could open up the wall, make improvements to the in-law to conform with main dwelling standards and have this added to the square footage of the main dwelling, something very similar to the process of adding square footage to the house.

It was nothing but dirt and sand on the 50 yard line.

Check all the 2/2's and see what their nightly rates, but seeing as you have one close by that is a 2/2 that is doing better than yours, I think you have your answer.