Quote from @Chad Labrecque: My name is Chad and I'm looking to grow my real-estate portfolio to be able to leave my 9-5 and build something for my kids.   

You need to do an inspection before they leave and after they leave to determine if you can charge them for damages.Problem #2: Who is responsible for rent if 2 move out.Problem #3: Who is responsible for damages if 2 move out?

He bought the house in 2003 for $240,000 as an investments property and has been renting it out ever since and the current tenants just signed a brand new 1yr lease and said that they don’t plan on leaving for another 3 years (Which I know is questionable).

They increase total interest dramatically, slow down equity growth, and leave borrowers vulnerable during market downturns.

@Michael Santeusanio We underwrite 75% and what we are comfortable leaving in the deal + ROI/ROE target, but have done 78-80% over the last year on refi's

It sucks to leave a house that you could have picked up, but there are a lot more.

I’ve been looking at different STR models lately (not Hawaii specifically), and one thing that keeps coming up is how big of a difference the marketing side makes compared to traditional PM.A couple things I’ve noticed from other investors’ experiences:• Direct booking + strong branding can make a huge impact in high-end STR markets• Relying fully on OTAs (Airbnb/VRBO) in luxury areas usually leaves money on the table• Having solid boots-on-the-ground is huge — not just for cleaning/turnovers, but for fast response times, quality control, and protecting the guest experience• Areas with high traveler expectations tend to reward hosts who manage the “guest journey” themselvesBreak-even cash flow being important makes sense, especially with Hawaii’s pricing and regulations.

I can definitely see renters just leaving trash everywhere rather than taking it to the dump on their own. 

I come in with a low ball offer “as is” for them to take it or leave it.

I had to rely on my new real estate agent to find another contractor, adding unnecessary stress to the process.The deal I was presented with had an ARV of $120,000, but after the rehab, the appraisal came in at only $92,000, leaving me short by $28,000.