Or if we should make some updates and sell it.

We could probably find tenants at 1700, more if we updated the floors in kitchen & bath.HOA seems well run with sound financials. 

Not too bad in todays local market if it's well taken care of and somewhat updated, but like @David Bardwell said, forget the purchase price until you're finished analyzing.

I'm currently purchasing a home that needs some updating.

Well, that 10% rent increase is mostly likely free and clear due to expenses staying the same. 

We are getting things in order to take advantage of those opportunities when they come, while "sticking to our guns" on the deals we are looking at now by staying conservative. 

I went to Denver's Short-Term Rental Advisory Committee meeting and thought I'd share this update on the Airbnb ordinance, enforcement efforts, and -- maybe most importantly -- the stirrings of some efforts to further restrict short-term rentals in Denver in the future. 

Being in and out of houses all day, every day give you insight on market conditions and allows you to take a pretty solid guess at ARV before you even run the numbers.We still suffer some of the regular problems though - like finding contractors who will show up on time and stay on budget.I have contacted about a half dozen paving contractors to look at a job at my home.  4 never returned the calls, two showed up and promised estimates. 

I have one coming up I know will need a new roof in < 5 years, so I budget 10k plus about a 3-10k (for less than 3 units) margin should I want to make improvements in the next 5 years when tenants move out (ie vinyl flooring install, bathroom update, new counter top etc), and thats doing the work myself. 

Amanda Han Brandon Hall Tax Reform Update Linda Weygant Books I have to say all of the BP books…right?