Thank you all for replying back to my posts and all inputs are very valuable. I am in the learning process and this is my first property/investment. The reason I am doing is hoping to be able to get out of my 9-5 job in the future.
Just to update everyone, I found a short-term lease for 37 days and they paid $2,900 per month. It cost me very little to furnish my property because I used the furniture that I have. After I have it leased it out, my HOA contacted me and informed that short-term lease is not allowed, however, I can do it this one time. I ended the contract with my real estate agent on the day that my short-term tenant moved in. They will move out on June 2nd and I put my property online again for long-term lease (6-month minimum). Also since my property is fully furnished, I can also offer long-term fully furnished to give people an additional option. No one in my area is offering long-term fully furnished. My short term lease tenant is great so far and she takes care of my property, which I am very happy about.
Currently, I feel less panicky and more comfortable. Two of the properties in my area are under pending contract for lease, which is a good sign. Also, one property is under pending contract for sale. The selling price is $35,000 higher than my unit and it was also flooded, same dimension, etc.
