Cherry Apartments is a 12-unit complex located in Kernersville, North Carolina. The business plan includes purchasing and renovating all units, raising rents to market value with additional fees. The strategy also involves refinancing to return over 30% of invested capital, with plans to hold the property for 3-5 years for continued cash flow. The property stabilized in just 10 months, well ahead of the projected 24-month timeline. Current rents increased from $4,400 to $14,200 per month.