@Andrew LowOPM is a real thing and a great thing. but, lets be real. you cannot go into real estate investing with a few hundred bucks...at least not in most cases. at this point, we have people that will fund our deals over 100% but it took experience and pain and having spent our own money to get there. if you have done a bunch of deals and have a proven track record, you can really not use any of your own money. i do not know, just starting out if you can pull that off. hard money is a great option. happy to share more if you'd like.

So, for you the pain point you're trying to avoid is critical to identify. 

Obviously, if they damaged the tub or any other object, there are other provisions of the lease that require them to pay for damages.I know that renting can sometimes be a pain, but it has its rewards too. 

I totally feel your pain about rehab costs snowballing, especially with the pandemic and supply chain issues.I really love how you tiled the entire bathroom, ceiling included!

@Trevor J Dammongood questions. most times your best choice with conventional lender is a 203k loan which i have heard is a bit of a pain in the butt to deal with. hard money lenders will normally give you 100% of the rehab funds that you need and can get the deal closed fast. for these reasons, i have always gone with an HML over conventional if i am buying a property to add value to it.we find properties via cold calling, ringless VM, text and post cards. these have all been great strategies for us!

The homeowner in question is deceased, when reaching out I came into contact with a close relative; who has express it being too painful to even entertain the idea of having the conversation.

This was long and painful.

Congrats on the place in Denver - I can only imagine what a pain it's been waiting for the property to be built but I'm sure it will pay off (literally) once it's up and running as an STR!

It's a pain putting together the boots/eyes on the ground and self-manage. 

Accounting for the cost of selling 12%, realtor fees 5% ish, 25% recapture tax which is not adjusted by inflation (the longer you hold it, the more painful the tax will be), and CAPEX, the profits by selling a buy and hold are low.