What should have been a relaxing vacation for a wedding turned into a very stressful and expensive week resulting in half our party needing other accommodations."

thanks - the above average properties will be seen and snapped up ...if interested in buying another property - get  pre approved so you can be prepared  to make an offer if a good property becomes avaiable - good luck 

Key Principles:Mindset and Goals:Think Long-Term: Real estate is a long term play in most cases Set Clear Goals: Define your financial goals and how real estate fits into your overall plan.Finding the Right Property:Location, Location, Location: Invest in areas with strong economic fundamentals, good schools, and low crime rates.Cash Flow is King: Look for properties that generate positive cash flow (rental income exceeds expenses).Consider Appreciation: While cash flow is primary, also consider properties in areas with potential for long-term appreciation.Financing:Get Pre-Approved: Get pre-approved for a mortgage before you start looking at properties.Leverage Wisely: Use leverage (debt) to your advantage, but don't overextend yourself.Consider Creative Financing: Explore options like seller financing or partnerships.Building Your Team:Real Estate Agent: Find an experienced agent who specializes in investment properties.Property Manager: Consider hiring a property manager to handle day-to-day operations.Accountant: An accountant can help you with tax planning and financial management.Attorney: Consult an attorney for legal advice and contract reviews.Managing Your Investment:Maintain the Property: Keep your property in good condition to attract and retain quality tenants.Screen Tenants Carefully: Conduct thorough background checks on potential tenants.Review Your Finances Regularly: Track your income and expenses and make adjustments as needed.Example Action Steps:Set Your Goals: Define your financial goals and how real estate will help you achieve them.Educate Yourself: Read books and articles about real estate investing.

A client can also close on a new property in less than 45 days so no long closing or pre construction risk. 1031 exchanges are easy to fulfill with our model. 

(but again, I feel this should be part of pre-investment due-diligence).

I’d appreciate some feedback on my current approach and advice if any.Here’s what I’ve done so far:Pre-Approval: I’ve secured a pre-approval amount and interest rate from an online mortgage lender.Property Analysis: I’m using the mortgage and STR calculators from BiggerPockets to assess the financials for potential properties.Neighborhood Research: I’ve been exploring different neighborhoods using Niche to get insights into schools, safety, and livability.AirDNA: I’m considering subscribing to AirDNA for data on occupancy rates and rental income estimates.Questions:Is AirDNA worth the investment for STR data?

Back in the day when I sold rural ranch lands pre google earth you needed to be able to read and understand USGS quad maps and a compass and understand from certain points on the ground you had compass declination's just like when your flying. 

I have already been pre-qualified for a loan. 

(you may want to pick out several based on different lot situations)Based on your plan you should be able to get estimates, You can either go to builders with their plans and ask them their cost to build pre sq.ft. or sq.m, or you can get actual pricing based on your plan. 

@Tanner Sortillo- thanks - I would have the new investor get a solid idea of financing options and for them to get formally pre-approved for a hypothetical scenario.