Having realistic expectations was something I had to accept early on.Property managers are going to be key for your investing as well.

If you want to look at total expenses over the years, you need to look at total income received as well with your potential sale price. 

But if you did the property up right with killer design and great amenities -- I'm picturing cool wallpaper, a game room, boho/modern furniture and a hot tub -- I can see a place here doing well as an affordable Airbnb/STR option just 10 minutes to downtown Denver.

I am well capitalized.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

Hi Jon from Boyertown, PA-You and your fiancé are interested in buying your first short-term rental and wonder profitable areas to purchase with a budget up to $500,000.I would look at places along the west coast of Michigan, Grand Rapids, Kalamazoo, and near Ann Arbor, MI.It is important to understand the local STR regulations in each community and partner with a property management company that can help your navigate that and manage it well for an excellent guest experience.Don't forget to look into bonus depreciation and doing a cost segregation study to increase the tax benefits of ownership and if you "materially participate" in the management of the property per IRS guidelines it can offset active W-2 income which most real estate cannot.To Your Success!

I got started by moving from Portland OR to Columbus Ohio and started full time real estate investing here and started with house hacking/multifamily as well. 

I just starting using truepeoplesearch.com as well. 

There are also cash flow based lending products as well as asset based lending products!

Here are a few methods that have worked well:• Data Providers:Consider subscribing to services like PropStream or ListSource.