What's your estimate on rehabbing one or both units?

Preamble - identifies Lessor (property) and Lessee (laundry vendor) - includes date of execution & lessor description and address, A typical lease will include number of apt. units and identifies number of units with connections (if applicable) - keep in mind that if you have in-unit connections for washes and dryers you present competition for the laundry room resulting in possibly reduced usage and reduced revenue.

Long term I would like the property management company to have +-200 units including our mid/short term and a team of 3-5 agents working alongside.

I’m currently renovating two properties, one a 5 unit and a second single unit in an 8 unit building. 5 and possibly all 6 of the units are rented, they’re just waiting to be finished so their new occupants can move in.

That was then rented out while construction started to convert a 275 sq ft detached garage to an Accessory Dwelling Unit (ADU).

How are people getting around these regulations (aka cohosts and others managing other people's units)?

Again, I inherited this tenant from the sale, but they have always paid a day early, seem to keep the unit and area tidy, and don't really complain much.

Have you tried examining a 2-4 unit home to see what you could get in that price range?  

We upped the rent by $75 a month on each unit to cover the bills.

To guarantee compliance and make wise judgements, familiarise yourself with lease agreements, rent stabilisation regulations, and other legislation pertaining to tenants.The presence of rent-stabilized units can impact potential rental income and appreciation.