I bought an outdated condo, planning to do a cosmetic rehab later when I had more budget.I moved out of the condo in mid-2024 for a job, and by September, my tenant noticed mice droppings.

I like the idea of STR as it seems like it can generate significantly more income than LTR and would allow me to block out dates if I have friends or family come visit.

It’s complicated, expensive, and, frankly, outdated.

If let it get outdated and go into disrepair, well, that will dictate the clientele we can attract right. 

However I did note that houses are mostly really old, e.g. 100 years or older... any idea if this poses challenges in things like lead paint presence, outdated wiring, rusty plumbing, etc., or have many of the homes already been updated?   

Compare the comps from both appraisals to see if the second appraiser used outdated or less relevant data.

She had a move out date of June 30th.

If it has significantly deteriorated, accelerate her move out date.

It might be worth a follow-up closer to the move-out date to confirm their plans, but avoid excessive contact to prevent escalation.

Carrying costs is about $1,400/mthThe 2nd; is a 277k outdated gem already appraised at 440k thats going to take about another 75k in rehab.