Once you factor in typical reserves (5-8% vacancy, 5% maintenance, 5% cap-ex), you're basically breaking even or slightly negative cash flow.The real question is what's the $187k going to do for you?

Do you do regular documented walkthroughs or just the basic annual ones?

My goal is to become a hands-on, knowledgeable investor who brings value to every partnership, deal, or project I’m involved in.This is more than a side hustle—it's the foundation of the legacy I'm building.

Welcome @Liam Davis, Before locking in a location, just focus on understanding the basics of the numbers.

Also, we will be doing many projects before putting the property on str platforms so does the date it is placed in service effect what is deductible in any way or does it not matter?

While the operator initially projected strong returns, the fund has failed to pay distributions for over two years, and several key performance metrics have declined sharply.Key Performance Data (as of Q4 2025 Report):Occupancy Collapse: Occupancy has dropped from 97.5% at acquisition to 78.1%.Net Operating Income (NOI) Decline: Annualized NOI has fallen from $3,323,252 at acquisition to $2,525,046—a nearly 25% decrease.Loan Non-Compliance: The portfolio’s Debt Service Coverage Ratio (DSCR) is currently 1.10x, which is below the 1.25x covenant required by the lender.Lender Cash Sweep: Due to the covenant breach, the lender has initiated a mandatory cash sweep.

I bought my first duplex and fixed up a few basic QoL items and after I moved out I created an LLC and S Corp then hired a part time handyman to be my property manager since I was busy at work and not very handy. 

I've project managed all my rehab properties into STRs & furnished. 

Off-season can drag.MTR typically lands between LTR and STR in effective monthly income with higher occupancy and fewer turnovers.LTR is the most stable but often lowest monthly revenue for a 4-bed home unless the market is tight.You’ll want to run the numbers — do a pro forma comparing:STR projected revenue (using local comps + occupancy estimates)MTR projected revenue (30–90 day bookings)LTR rent comps in the neighborhoodWebsites like AirDNA, Mashvisor, and even local Zillow comps can help with that.4.

However, these projects often require significant upfront capital, which is where bridge financing becomes a valuable tool.Key Benefits of Bridge Financing for Value-Add Multifamily Projects1.