Fire & Life Safety Upgrades (This is where most projects die)ALFs need:• Full fire suppression (sprinklers)• Commercial-grade fire alarms• Wider hallways / ADA access• Emergency egress and refuge plansMost older motels fail these standards and require six-figure upgrades.3.

I’m also wondering if it’s possible to find someone local who can be available for emergency situations if needed—any tips or experiences with managing remotely would be greatly appreciated!

I do think having a sufficient emergency fund is vital before investing in anything (stocks, real estate, retirement accounts, etc).

Take a year or 2 to save up a nice down payment and emergency fund then buy a place with as many bedrooms as you can get.

In addition, the inspector initially communicated it as an emergency so I thought it was a far worse emergency.  

Helps you avoid MOST emergencies. 

If you’re planning to self-manage in Ohio as an out-of-state investor, building a solid team is key even if you’re doing the day-to-day yourself—start with a reliable local real estate agent who knows investor-friendly neighborhoods, a property manager you can call on for emergencies or occasional help, a good handyman or contractor for quick repairs, and a local lender or title company you trust.

The key differentiator is that these models would be constantly updated for things like:Changing mortgage rate formulas and lending rules.New tax laws and depreciation rules.Integration with current data sources for things like rental comps or maintenance costs (where possible).New model types based on emerging strategies.The goal is to save you the hours of building and, more importantly, maintaining your own spreadsheets.I'd be incredibly grateful if you could help me with any of these questions:The Pain Point: Does manually updating your analysis spreadsheets for rule changes feel like a chore?

My guess is when you have servers tracking millions of listings there are probably patterns that emerge that are outside of typical booking behavior. 

It wasn’t until 20 years later decent REIT investments emerged.