It just prevents suprises like this. 

Installing fire stoppers (also known as stove fire suppressors or range hood fire stops) can be a simple and affordable way to prevent a small cooking mishap from turning into a full-blown disaster.Fire stoppers are compact, automatic fire suppression devices that attach directly under your stove’s range hood or above each burner.

This could have been prevented by looking for an NMLS license.

Denver limits STRs primarily to primary residences, preventing scalable STR portfolios.In these markets, rules can tighten quickly, and public sentiment is not on the side of hosts.Why This Matters Now More Than EverAcross the United States and globally, we are seeing:1.

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I’m in property management here in Oklahoma, and I wanted to chime in because having professional management in place can make a huge difference—especially once you start scaling into small multifamily properties.A good management team can help protect your investment and actually save you money in the long run by:Keeping occupancy high – Focus on minimizing vacancy by marketing effectively and maintaining strong tenant relationships.Screening quality tenants – Careful vetting upfront prevents a lot of headaches (and expenses) down the road.Staying on top of maintenance – Timely repairs and preventative maintenance protect your property’s condition and value.Conducting regular inspections – Move-in/move-out inspections plus periodic mid-lease checks help ensure the property is being properly cared for.Streamlining communication and compliance – Handle rent collection, lease enforcement, and make sure everything stays compliant with state and local regulations.For investors like you who want to focus on growing their portfolio instead of day-to-day management, this kind of support can really help maximize returns and keep things running smoothly.If you ever want to chat more about how management could fit into your strategy or what it looks like for small multifamily properties here in Oklahoma, I’d be happy to connect.

A detailed lease that outlines rules, fees, and maintenance responsibilities keeps everyone on the same page.Ignoring preventative maintenanceLittle issues become big ones fast.

Yes, I see nothing in the CC&R's, bylaws or rules to prevent that. 

Motivation is good, now to capture that and translate into action 😊Sounds like you are well on your way to implementing the House Hacking strategy!

You can’t always prevent overruns, but knowing about them in real time gives you a chance to adjust your strategy or even recoup some costs at resale.It’s also important to keep your bookkeeping current from purchase through resale so you know where you are throughout the project.As for the contingency, I recommend estimating renovation costs using a range for each line item on your punch list, then leaning toward the higher end of that range.