All Forum Posts by: Chris Weaver

@Jake Thomas the MFH are apartments so I can't see tourists wanting to rent them. They typically look for condos or nicer single family homes. Going further out does lower prices but the rents are still right around 1%. Also, property management for vacation rentals is expensive at 50% of GOI. After furnishing the building, paying taxes, insurance and mortgage it doesn't leave much or anything left.

I've been on here for a few months, listened to many podcasts and looked at many listings but am not sure where to start. I want to buy a long term rental but my area is a tourist destination so the long term rental market is poor. I'd rather not do vacation rentals as they are too unpredictable for me. I looked at a 4 unit in bad condition with a GOI of $36k--asking $310,000, and a 2 unit with GOI of $18k--asking $180,000 in bad condition in a flood zone. The property taxes here are high and any decent SFH is around $200k but I know the area well. My biggest advantage is that my dad is a GC so rehab estimates are simple. I'm really not sure which avenue to pursue so any advice is appreciated.