Property Tax was Deal Breaker on our First Rental

[Yoko Hankins]

We found a great deal on our first STR property in Pensacola, FL. But we realized that the country assesses x3 property tax on rental properties. We were fortunate that we discovered this before we signed, but are very bummed. It was definitely a good learning experience. I have 2 questions for you, rental pros!

1. Is this higher property tax for rental properties pretty common everywhere?

2. We are having a pretty tough luck finding a good deal. It is either great price but requires a repairs/updates that are more than we are comfortable with or a rent ready property that will just break even for a while and it is more like a buy & hold to wait for the appreciation. 

[Nathan Gesner]

It's tough to find a good deal in most corners of the country. I looked in six different states starting in April and couldn't find anything that made sense. People are making emotional purchases, not sound investments.

Don't give up. Keep looking, keep saving, and something will come along.