A break-even duplex in CA has the potential to have high cash flow in just a few years due to the following 1) low prop taxes increase of 2%/yr 2) low turnover due to rent caps 3) 7-10%/yr rent increases 4) better tax shieldingThe real question is whether you’ve underwritten the duplex correctly.

@Erika Caba I think if at the end of the year when you can evaluate the situation as a whole with everything taken into consideration and are looking at your tax returns if your goals have been accomplished with this building, whether it’s positive cash flow, off setting W-2 income, whatever, then I’d say it’s too early to throw in the towel.

With hard money loans (fix & flip loans) you don't need to be employed or show taxes and you would get say 80% of the purchase price + 100% of the rehab money to fix the property up.

Is investing out of state a wise decision for someone only making 50K (before taxes) in an expensive city ? 

(I could probably get this increased but I'd have to get primary residence Sq ft re-evaluated since the basement is finished and heated but of course thay would increase my property taxes.)Thinking about refinancing primary residence and taking money out to do the additional building. 

It wasn't worth filing an insurance claim because if you have too many claims they can drop you or raise your rates.

For further details on this parameter, please consult our user guide.We have allocated a budget of $15,000 for renovations / refurbishments.The purchase price of a 2-bedroom / 2-bathroom unit in this area is $498,000, with 5% of this price allocated for closing costs.A turnover cost of $175 per booking has been factored in, with no rental management fee assumed, indicating that you will manage bookings and cleaning services independently.The mortgage rate is set at a fixed 7% per year, with an 80% loan-to-value ratio (LTV) and a 20-year term.For the remaining parameters in our financial model, please refer to the image above.Taking these values into account, below are the results of the financial case study.Some insights:The results show the anticipated performance of a 2-bedroom / 2-bathroom unit in the southwestern area of Okaloosa Island, Florida.Expected gross revenue amounts to $78,240, derived from 47 bookings with an average stay of 5 days at an average daily rate of $325 (inclusive of cleaning fees).Total yearly expenses add up to $68,014, encompassing various costs from private mortgage insurance (PMI) to property taxes and annual loan repayments.The cash required for this deal totals $139,550, incorporating the 20% down payment for the mortgage, 5% closing costs, and the $15,000 renovations budget.Pre-tax net revenue stands at $10,226, representing a 7.33% cash-on-cash (CoC) return.The annual return on investment (ROI) is 1.9%, excluding value appreciation.

Digital nomads, corporate travelers, construction workers, relocations, families experiencing an insurance claim and many, many more types of travelers are looking for furnished accommodations and they each have different requirements for what they're looking for.

These numbers should be determined using a combination of the historical financial data available, feedback from your property management company, your business plan, and the property characteristics.Generally, you can expect per unit numbers like this:Repairs & Maintenance: $200 – $500 per unitAdministrative: $150 – $350 per unitUnit Turnover: $200 – $300 per unitContract Services: $200 – $500 per unitUtilities: $800 – $1,200 per unitAdvertising $100 – $300 per unitPayroll $1,000 – $1,600 per unit (very market specific)Insurance: (very market specific)RE Taxes: (very county specific)Again, these are very general per unit numbers but they should help provide you with guidance. 

Understanding and taking advantage of the variety of tax credits boosts the return on your property and allows you to be part of the move to conserve our nation’s historic treasures.When rehabilitating or investing in the rehabilitation of an eligible historic or non-historic building, you may be able to take advantage of one or both of the historic tax credits: 1) Historic Tax Incentives and 2) Historic Preservation Tax CreditsYou can receive a federal income tax credit equal to 20% of the costs associated with rehabilitating the building.