Projecting $30k annual net operating profits (after paying monthly mortgage & service costs.)Cash invested $90k (closing costs, repairs/improvements & adding furniture, TVs, appliances, etc.)Cash borrowed: $463kHours invested: 500Projected annual revenue $70kAnnual mortgage, taxes, insurance $37kAnnual maintenance & cleaning $20kAnnual repair budget $10k Lessons learned?

Hopefully the tool will improve again with future web site improvements.

Improve your rental agreement.

However, with the improvements and increased income from the sign and increased rents I will be able to show a strong NOI and I'm hoping to refinance with a bank within another year or two at a lower interest rate and increased valuation.

They are meant to weather the market until conditions improve.

Our Plan A was to sell both, but with the softening of the market, we are preparing for our Plan B, which is to keep both units as rentals (minimum 5 years or until the market improves).

One method that has worked for me is family and friends willing to invest with me on a project by using their capital for down payment and improvements while I hold the financing.  

They put a lot of money into the property and improve the asset, most homeowners won't to the level up repair a investor will 

(If you take the smallest unit, and rent out the biggies your cashflow situation will improve.) 

When I see all the investment and intentionality in improving the city, it only increases my confidence in investing there.