Purchase price: $250,000 Cash invested: $14,000 I purchased and managed a rental property in Chicago, focusing on strategic improvements and tenant satisfaction to increase both its value and profitability.

I’ve been looking into areas like Oakhurst, Mariposa, Yosemite West, and surrounding towns.If you own or manage a vacation rental in this region, I’d love to hear about your experience.

You know just as well as I do that the entry level SFH turn key model is nothing but a money grab for the turn key providers and PM's who ultimately manage the properties for them.

For owner managed properties like this we see expense ratios in the 35%+ range. 

You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

Quote from @Carson Hyland: Even if you buy the right property, failing to manage it well will kill your cash flow. 

The local property will give you practical management experience.You might do better buying a REIT if you are planning to buy single properties far from home.

Do you have experience managing renovations if needed? 

For example it is my understanding that Big Bear allows it but whoever is managing the property has to live within 1 hour of the property. 

I work on a ton of Padsplits in the Atlanta market and it is tough for a 4 bed co-living property to be much more profitable than a long term tenant factoring in additional utility expesnes, padsplit fees, and additional property management expenses.