We’re getting it cleaned up and I am off to Home Depot tomorrow to get another new washer!

Can I get out of my contract easily? Is there a way?

A daily rental manager needs to provide some sort of reservation service (preferably it includes an online presence), physically inspect and clean the property each day as your renters check in and out, and provide a linen exchange and laundry service for the sheets, towels, etc.  

Here is my rental rehab (BRRRR) #1 (My strategy with these is buy, rehab, and refinance out and get back all money my spent while paying off the lender)Brick row home, 1156 sqft, 3 beds/ 1.5 bathPurchase price: $58,000.00Purchase Closing Costs(including lender fees): $7,035.00Estimated rehab costs: $25,000.00Estimated ARV: $145,000.00Actual Rehab costs: $26,384.52Actual Appraised Value: $140,000.00Cash Out Refinance Loan Value: $105,000.00 (75% LTV)Refinance Closing Costs: $8,739.00 (Loan Costs & other Costs (pre paid costs, escrow costs, taxes and other government fees)Total Cost out of Pocket: $100,158.52Total Cash back after all HML has been paid: $4,841.48Gained Equity: $35,000.00Rent: $1,475.00 a monthPre-Rehab Photos: Repairs Completed:Replaced furnace and condenserRemoved sections of walls between kitchen to dining room and dining room to living roomComplete kitchen rehab to include granite and all refurbished SS appliancesComplete 2nd floor bathroom rehabPainted entire houseRefinished 1st and second hardwood floors to a darker colorInstalled all new ceiling fans Replaced all doorsDecided to keep wood paneling and not finish 2nd half of basement.Replaced ceiling with recessed lighting and new carpet in 1st half of basement.2nd half of basement cleaned and repainted all surfaces.Replaced water heater, washer, and dryer.Rehab of basement half bath (I feel this was a mistake not upgrading to a full second bath)Fixed gutters and railings throughout the exteriorLandscaping with black mulch and a assortment of flowersPost Rehab Photos:I believe that is everything and all the pertinent information.

@Christine Swaidan, allow me to answer that: 2 years is the timeframe a medium (not stellar) renter could make your newly renovated unit into a dump, even with every 6months inspections.but also, if you get a good, clean tenant (notice the change from renter to tenant= they think of your property as home), you don't have your money in the property for more then 2 years, which allows you to respond to changes in the market.

Both allow you access to 401k funds while avoiding the taxes of an early extraction before age 59.I'm a cashflows guy, and the more clean cash flows, you can produce the better.

You bring cash and desire to the table, someone with clean credit can get the loan, and you come up with some kind of partnership agreement to split the proceeds. 

If there's adhesive from the carpet, sand it off and the power wash the concrete clean.2.

- Interior & exterior doors- Inspections- Permits- cleaning (there's a lot of dust and mess after a remodel)This isn't every cost, but we do find these are the biggies.

That will also give you a clean deed instead of a Tax deed.