We done deals in FL, the 1% rule is definitely achievable assuming you're planning to do short/mid/long term rentals.

The market is tight now, but if you purchase right you should be able to achieve a levered IRR of 15%.

Your plan sounds well-thought-out and strategic, with a clear path to building wealth and achieving your goals of retirement and generational wealth.

We purchased the property for $40,000 and sold it on the same day for $45,000, achieving a fast and profitable transaction.

With a reliable power team by your side, you'll be well-equipped to handle the complexities of real estate transactions and achieve your goals.

My fiancé and I are looking to build a 3-4 unit townhome style multifamily in the Knoxville area.

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

If you are willing to rent rooms, it is a simple equation and you can live for free, it literally is just finding a house where you can add multiple bedrooms and turn a 4 bedroom to a 7 bedroom or a 5 to a 7 bedroom and you take the smallest room or a trailer and renting out 7 rooms, you can definitely achieve cash flow.

So I'm okay not making the big bucks STR style, but I also don't want to do it at a monthly loss.

On the other hand, a 200%+ return is fantastic and if they had been able to achieve that, perhaps rewarding the GPs for it is appropriate.6.