The building was up for grabs and we decided we would purchase it as our first multi family property.Both units are three beds one bath on a large plot of land with a big fenced in backyard in a quiet residential area.

You can do updates which can help to make your condo more attractive to prospects, but if you are buying in a community where rental rates are normally $400 per bed then your updates are not going to be able to justify charging $500 per bed (normally).

Regarding the cleaning service; does that also include changing bed sheets, laundry for towels/linens to get ready for next guests, etc?

I live in the master and rent out the other 3 bed rooms, which covers the rent.

Lived on property and fixed up property by adding two beds and one bath, which increased equity in home.rented property for the last three years, while using equity for other investments and cash flow.

I got a quote a few months ago to wire a metal theft 1000' 3 bed 1.5 bath house for everything from the meter.

In one of my most recent acquisitions in Berwyn I have dealt with bed bugs, roaches, flies, spiders (and rats) all in the first year since acquisition!

That's what I do.  23 STRs, 83 beds. 

The home is 3,500 sq ft with 5 bed/4bath in a neighborhood of <1000sq ft 2bed/1bath 3bed/1.5bath C class homes selling for under 100k.

Based on a 10 month Project Duration: 2,199 sqft house, 4 bed 2 bath (adding add'l room) Purchase Price: $9,800Repairs/Labor: 35k Holding/Closing: 10kARV: 160k Profit: $99,501 (62% ROI)We are looking to fund the repairs.