Hi, I am an STR Designer and I wanted to drop some notes on the experiences I have had with a large swath of different owners this past year from low end to high end.I can see that the point when an owner buys a property to getting it up is filled with anxiety, no to little design planning and most have a low grasp on the guest avatar.

Can anyone point me to free or low cost flipping training? 

The reason it won’t work is that “low end” assisted living is not profitable.  

Competed foreclosures, the final phase, were up 32% year over year.Florida, South Carolina and Illinois led the nation in state foreclosure filings. we are still at all-time lows for foreclosures. they will continue to rise in the future and may get closer to the norm but I would say its doubtful. 

But don’t underestimate the value of a quiet, decade-long tenantReplacing them likely means:VacancyFull turnoverThousands in rehabFresh smoke remediationAnd potentially tenant placement feesIf they’re paying on time and low-maintenance, you want to fix the behavior before you replace the tenant.3.

For those of you getting low projections, have you checked the market the property is in and the active listings on AirDNA, versus how many active listings there actually are? 

Don’t terminate the next deal based solely on one low appraisal.Instead, look at your actual spread:Your all-in basis: $180K loan + ~$35K rehab = ~$215KAppraisal: $282KThat’s still solid equity, even if annoying on the cash-out side.Bottom line:Yes, the number feels low and based on your rents and renovations, there’s a strong argument for a higher valuation.

The seller claims the HOA fees are only $33/month, which seems unusually low and makes me unsure what to look for or what the risks might be.

Ultra-low interest rates and quite low RE prices.

(Your wife thinks of this as low risk because you aren't borrowing.