@Kitty Walker- As an investor, I've refinanced multiple Padsplits and co-living properties (where we go direct to tenant without Padsplit), and I generally agree with your last statement, with some caveats:- if the renovation is done well, the appraiser may not even say anything that would indicate it is an "abnormal" SFR (has happened multiple times with me)-the investor may be wise not to make the house crazy- just leave a nice open living room, put double doors on the dining room so it can function as a bedroom now but be easy to convert later, etc.  

The marketing functions is where the very host cost comes in.

Obviously your goal is to widen the spread, so focus on what you can control  Expenses are also a function of market, as some of my properties have taxes at 65% of total expenses, while others are 15%.

You're raising a fair concern: the cheap + OOS + first-time combination is genuinely risky, and I think the data backs that up.That's part of why I walked away.

(Consolidation, Extension, and Modification Agreement). it combines the existing mortgage with a new mortgage.

It’s functional.And functional is what builds wealth.For investors who prioritize cash flow, stability, and scalability, Memphis isn’t underrated, it’s misunderstood.Are you investing for appreciation, or are you investing to get paid every month?

That will get them interested, then they will dig deeper to see that you have a nice dining area, beds, kitchen, etc.You might be able to combine multiple experiential elements into a single cover photo. 

I suspect a combination of stubbornness and the realization of “Oh ****, I just wasted five thousand dollars” made many of those conversations less productive.Because that work was a relatively small, supplemental part of my income, I eventually shifted to a model focused on pre-recorded, self-paced modules covering the same subjects I would ordinarily advise on directly.

You can have any combination including a Hard Money Bridge Loan from a Private Party.

As reward, I will provide a clean, safe, functional home and be responsive to routine service requests.