Of this, of course, there are deductions to be had... whether it be amenities (I provide a bottle of wine, fresh sponges, fresh paper towels for every guest), utilities, HOA, and of course the largest cost: cleaning.

We removed that separation wall to make a functional breakfast bar.  

Are you trying to find the investment that takes the largest rate of interest to return the NPV to zero, or the least interest to return NPV to zero? 

I realize success in real estate investing is a function of how much effort you put into it, continued learning, and a little bit of luck.  

The porch is cold in winter regardless of windows.The current windows are functional.  

A big problem with the 50% rule is that the largest expense of that 50% is cap expense which tying it to rent rather than size, bathrooms, quality of products, etc. is flawed. 

You can search the "tax deed search" function on the Clerk Of Court site to see any pending sale status (a scheduled tax deed auction date) of that certificate number.

About 1/3rd of my business is 2-4 units, and we're also one of the largest renovation lenders in the country.

Not uncommon for me to pull on 6 figure fees with my largest being over $600,000And many other great reasons.Biggest negatives.Takes a while to get paid (still quicker than trying to just be an investor)Hard workNot a stable income so you need to be able to budget.Good luck and if you ever need me to answer a few questions just track me down and give my office a call.Curtis

Your target is functional obsolescence , a property might need an update to make it usable again.