@Matt Yarrington, Hey Matt, allowing dogs has been huge for filling the units during the off season.

Also, setting the change order process, overages, etc. up front will make a huge impact on the success overall.

@Alex BelyarchikDFW is a huge market, at least in my opinion .

It seems like it might be more difficult with some lack of control, but in the long run I feel that it would be more beneficial and easier to scale. 

Both are taking about 4-6 weeks to receive str permit and there are huge fines for operating without one. 

And if the seller artificially inflates the price to accommodate the improvements then they have a huge gain issue. 

Now this issue is out there and cannot be hidden any longer.....Maybe let him dangle trying to sell this for a while and when he get's desperate, swoop in and get it at a huge discount.

The downside is (1) compared with residential, comps used in appraisals are nowhere near as accurate, so the income approach is heavily relied on, which can produce huge swing in “valuation” depending on cap rates, interest rates, revenue swings, expense costs.

But I think defining your minimum cash flow, cap rate, COC return, and any other metrics you think would be beneficial would be a good way to help analyze your deals, that way you have something to measure against.

I don't have huge bills or family, so It is easier for me to start working on my financial life.