@Jimmy Rojas..Full disclosure, I'm a mortgage broker in CA + AZ. 

Although be aware that some cities/counties will not allow you to turn your garage into 'living space' if it doesn't meet certain criteria to begin with....such as structural and slab issues.

Totally wrong here. maybe if you buy a new build at full market price but there's plenty of strategies to new builds. lowest land cost and highest resale per square foot in residential appraisal typically. 

Had I waived the deposit, I'd have a full house right now. 

This will increase the return above what can be obtained on a passive investment.The flipside of having the power to control everything is that it can be alot of work (and a full-time job if a person is putting in sweat equity).

Also make sure you secure your building during renovations, I had stuff stolen during construction when I did a full rehab which was a pain.

They were supposed to submit prorated January rent, full February rent, and security deposit, per the lease they signed.

We saw lenders requiring a 30-day "pay balance in full" situation.

ThanksHey Komal, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

Now, as the tides of life bring me closer to the serene shores of Navarre Beach, where my children have woven their lives into the local tapestry, I find myself drawn back to the world of STRs with a heart full of curiosity and a mind eager to refresh & learn.Looking forward to learning and growing with you all,