I would look for a bunch of Sub To Deals with 2-3% interest rates ...... then rent out for cash flow and huge equity build up when rates are really low (check out amortization schedules and compare 2-3% vs 6-7% with the same balance and length of time - check out the principal portion each month - the lower the rate the higher amount goes to principal PLUS better cash flow).

I'm looking at investing in a short term rental in Jacksonville, my budget is fairly modest though, up to $300k so I'm not looking to do a high-end STR.

Quote from @Matt Stull: Hello, I am fairly new to this idea and have wanted to invest in a STR.

He was helping a friend in a weird situation but $700 was fairly close to what others rented for.

After the 08 crash, I started buying rentals and built a portfolio of 80+ sfh's - all three bedroom homes in areas with good schools.My mistake was selling a bunch during covid.

Taxes are calculated on the gain (e.g. sale price - purchase price + expenses, broken down fairly clearly by @Jake Baker) not just on the sale price.The tax treatment on sale of a Primary Residence vs.

I also know Arizona is fairly investor 'friendly' and has fairly low property taxes.Interested in purchasing small multifamily properties (2-8 units) depending on the property and numbers of course.

So just don't open yourself up to fair housing violations if you do deny them.

I'm about ready to retire so I'm not looking to compete in a bidding war, mainly looking for a fair deal that I can rehab or a turnkey with some cash flow. 

I think there's a fair amount of play in the budget for what needs to be done.