Typically I see a statement included to the effect (paraphrasing here): "any owner can provide 30 day notice of proposed repair/maintenance/improvement and then any other owner can respond.

So your total gain would be around $65,000 over 5 years with an investment of around $140,000 which would be around a 9% return per year in my example and my example doesn't include repairs, vacancy, or turnovers during that time.

Here’s another example from my “long ago” files - this occurred in 1998.A guy I knew told me he wanted to sell his automotive repair business, including the real estate.  

That is in effect what you are doing and f you do not include PM fees in your underwriting.Your maintenance/cap ex fees is likely too low by a factor of 2.You are missing the misc charges like asset protection, bookkeeping/accounting/tax man, utilities due to property issues such as by a slab leak, legal/evictions, etc.The 50% rule is aggressive at this rent point and projects $82/month of cash flow.  

. - All utilities included (except internet, water, and pellets for the pellet stove)- Comes with private sauna- Comes with Private Gym- Comes with shared in ground swimming pool- Comes with wrap around porch- Comes with jetted soaking tub in the primary bathroom.- Partially furnished (everything except living room and primary bedroom)- Comes with property managementTo put it bluntly, the rent being charged is higher than your average consumer can afford... $6,500/month to be exact.When I think of who might be able to afford a rental like this.

Partner Driven funded 100% of the capital required, including the $295,000 purchase and the $182,807 renovation budget.

Not including original downpayment. 

We’re seeing a lot of applicants with credit scores below 550, some with falsified income, and others with outstanding landlord debt who refuse to resolve it.A few lead sources that have consistently worked wellfor our community include Zillow (most affordable), Apartments.com,and Facebook Marketplace.

Many leases include a five-day grace period, so end-of-month or first-day closings invite finger-pointing about who should chase rent.

I’m starting my first KC project with about $90K in capital, and my buy box includes: SFRs (3/1 or 3/2 preferred)Value-add BRRRR opportunitiesPost-rehab rents of ~$1,100+Stable, working-class neighborhoods with solid rental demand   Currently looking to connect with:  Investor-focused real estate agentsProperty managers experienced with BRRRR tenantsWholesalers with off-market inventory that fits a value-add modelLenders who actively finance BRRRR projects in Kansas City (DSCR, fix-and-flip, and long-term rentals)  I’d also love to hear from KC investors about what’s working well for you in the current market and any neighborhoods or trends to be aware of.