The layout allows for an easy addition over the garage, potentially adding 2 unitsThese units could generate approximately $36,000/year at $1,500/month rent per unitFinancial Overview & Valuation: At current income and stabilized rents, the property offers a 6.5% cap rate on a $700,000 valuationRenovations and addition of two units would cost approximately $350,000Post-renovation, the ARV (After Repair Value) is projected at $1.4 million, with the potential to double the annual revenueRun Your NumbersWith the current market pricing in the mid-$600,000s and being on the market for only 30 days, 5000 Florence Ave represents an exceptional value and scaleable opportunity.

They are way too guest centric and often leave owners hanging.VRBO and AirBNB should be all you use in addition to looking at direct booking as well.You can rent an ozone machine which should take care of the smoke smell.

Any help/direction on this is helpful.Jeff My suggestion would be to use a standard Wisconsin lease from Wisconsin Legal Blank and then have the tenant sign any additional addendums you create on your own

Quote from @Andy Chen: Hi all, I’d like your advice on how to structure a potential deal.A friend of mine owns a property outright that still has plenty of space for additional development.

The new policy will list:  1 Primary Insured: My LLC 2 First Lienholder: The existing mortgage lender 3 Additional Insured: The seller   Please let me know if there is any better way to handle this

I collect a pet fee to help offset the cost of any additional cleaning that might be needed for pet hair and such.

It appears to translate correctly to owner statements in Hospitable, and guests do not see this as an additional fee on Airbnb.

Dan is right, OOS is hard and you will face an additional cost burden local investors don't have.

The additional inspection is modest and I never mind another set of eyes on potential liability and problems.

Definitely agree that this region is under-served on BiggerPockets — happy to explore how local permitting and engineering factors could support additional pipeline deals here. lets hop on the phone and chat later this week I am in the mountains of Utah fishing right now.. later this week will work though