After seeing my brother's success with flix and flip in the bay area over the last 4 years, I decided to explore the same in New York.

A lot of the popular areas in Charleston proper that are not licensed under the old laws now require the owner to live on the premises to obtain an STR license.

The current owner bought it for $30K and I know they had to clean up a lot of title work and started doing repairs. 

@Matt PowersFrom my experience, deciding between short-term rentals (STRs) and long-term rentals (LTRs) depends on the market.

Competition with owner-occupants and the age of the homes (70-120+) will squeeze your margins and expose you to a fair amount of risk.

As far as your next property, if you are already considering moving you will get better loan options + interest rates if you decide to live in the next property and rent out your current house. 

@Ed Lopez what controls do you have over what they decide to do?

Obviously, i left that dumpster fire and decided to work at the same type of job, except work in a remote atmosphere...

You can only target owners with paid off properties who don’t need the money right away.

I have been following the Real Estate Investing industry for a while and just recently decided to put my focus into it and implement a plan I had in mind for years.So I went down to Puerto Vallarta I put together a team of local realtors, brokers, contractors, property managers and a lawyer.