Basically a total renovation.  

Take a look at your financing package and understand what your total annual increase in net worth is.

The purpose of the Quit Claim deeds is to totally isolate the "company" assets for liability reasons, also so that the "company" is something I can sell one day to another investor, or give to my daughter by making her a member.

I purchased both for $308,000 total in Dec 2015.

Please let me know if I'm not including any expenses or missing something key.Property Details:- 3 / 2, 1374 sqft, $89k askingExpenses ($802)P&I: $369Tax: $188Insurance: $70Utilities: $50Vacancy: 5% ($62.50)CapEx: 5% ($62.50)Total Investment (Down Payment + Closing + Repair) = $25,499Rent = $1250Cash Flow = $448Cash On Cash ROI = 21.08%This is a single family home in an area where I've competitively estimated the rent (Most units running between $1150 and $1450). 

 - One interior unit will be 12,000 BTU for a large living room/kitchen space, and a smaller 9,000 BTU for the bedroom.the total system capacity has to be able to cool both inside units at the same time so 21,000 BTU or larger for the outside unit.The beauty of these is that they can be installed DIY (provided you get your 608 certification card), as long as the line sets don't need to be shortened or lengthened, as there is no brazing/welding involved, just connect the lines and purge air, etc.my dual zone costs comes in at around 2.6k to 2.8k for my 800sqft structure.

Equivalently, it is the discount rate at which the net present value of future cash flows is equal to the initial investment, and it is also the discount rate at which the total present value of costs (negative cash flows) equals the total present value of the benefits (positive cash flows).Can you shed some light on how you calculate the IRR for your rentals?

AirBNB obviously incurs the utilities (including internet...maybe cable/security), property management, and hotel/local taxes that I'm still trying to educate myself on...not to mention the upfront/semi-ongoing furnishing.

Based on research of recent sales in this particular condo complex and nearby 1/1's with similar square footage I feel quite secure.

Major employers are the base, federal agencies such as border patrol/homeland security, school district, city, and the hospital.