The home needs light renovation, which presents an opportunity to force appreciation and boost rental income.📈 Deal Snapshot:• Location: Prime (STR-eligible area)• Purchase Price: $1.995M• Renovation Budget: $50K–$100K (cosmetic)• Down Payment Needed: $400K–$700K• Projected Nightly Rate: $1,000–$2,000• Gross Monthly Potential: $20K–$45K• Exit Strategy: Hold 2–5 years or refinance after stabilization💼 What I’m Looking For:• A capital partner to help fund the down payment• Equity stake OR a fixed return structure (flexible depending on your goals)• You can be completely hands-off — I’ll handle all renovations, management, and operationsAbout Me:I'm a real estate agent based in West Hollywood with short-term rental and renovation experience.

The home needs light renovation, which presents an opportunity to force appreciation and boost rental income.📈 Deal Snapshot: • Location: Prime Malibu (STR-eligible area) • Purchase Price: $1.995M • Renovation Budget: $50K–$100K (cosmetic) • Down Payment Needed: $400K–$700K • Projected Nightly Rate: $1,000–$2,000 • Gross Monthly Potential: $20K–$45K • Exit Strategy: Hold 2–5 years or refinance after stabilization💼 What I’m Looking For: • A capital partner to help fund the down payment • Equity stake OR a fixed return structure (flexible depending on your goals) • You can be completely hands-off — I’ll handle all renovations, management, and operationsAbout Me:I’m a real estate agent based in West Hollywood with short-term rental and renovation experience.

I wish I could say I don’t see BiggerPockets as an organization in a more negative light now, but I do. 

A place might look amazing in listing photos with bold accent walls and trendy furniture but once a guest arrives, they realize there’s no spot to put a suitcase, not enough lighting to read in bed, or nowhere comfortable to sit and relax.A lot of this can be solved by the suggestions above from & @John Underwood & @Mike Grudzien.Think like a guest.

I stick to light to medium rehabs, so I stay away from anything that requires replacing plumbing or electrical components due to the associated costs and the need to closely monitor those items, as I have been burned in the past. 

New refrigerator, dishwasher, luxury vinyl flooring downstairs, kitchen cabinetry, kitchen sink, bathroom cabinetry, bathroom sinks, minor backyard landscaping, various indoor and outdoor light fixtures.

I estimate rehab costs should be anywhere from $10k-15k for a conservative number assuming tenants are responsible like the description lists, and light fixes such as paint, or add-ons to the kitchen to facilitate more returns.

For instance, a home builder is not really going to be able to provide you much useful information if you are looking to acquire light industrial properties.The skills/connections needed to be a developer are different than those needed buy an existing hotel and turn it around.If you really need a basic knowledge I would recommend reading some books from Amazon. 

USA made light oak set for the breakfast nook, $50.

That guest house plan sounds brilliant for funding the main house remodel.