Purchase price: $211,000 Cash invested: $50,000 Purchased this house for $211k eight years ago.

Typically, the STR property tends to be priced at 10x of the annual gross revenue, so let's assume you buy a house for $500k and you can get $50k a year in gross revenue. 

I've done something very similar in Columbus OH.

@Nathan Gesner I like in CA, I’m scared of snow… unless I’m on a snowboarding trip!

It was an up front payment to receive the modeled layout of the home, and they had an individual go to the house to do the mock ups.

Huge piece of land in a suburban area - would be able to do 6 spec houses.

This can help tremendously as it teaches you the ins and outs at a local level.Hope that helps! 

It sounds like a single family house where you will be living in the house(personal use).Therefore, you may not be getting the tax benefits you think you are.Consult an accountant.I am not sure why your sister would agree to this as well, she is losing $170,000 in this transaction and she faces the possibility of you increasing her rent.You also have to charge market rent or close to market rent or it is all deemed personal use.

I’ve already contacted the seller and just need a buyer who is interested in this to close with me( I’m a wholesaler).

I really like Granite Selection in Elk Grove.