HOA fees, in particular, seem to be the biggest hurdle.

With DSTs you need to make sure that the various fees don’t negate your profits.

Quote from @Brandon Leffler:I may sell my condos in CA as the HoA's have climbed to 400$/mo I wouldn't sell your condos solely based on HOA fees being $400/mo.

I am planning to get into the TN real estate market as my first investment and am looking for some information.In particular: Areas to steer clear of, property management fees, typical cosmetic rehab costs, etc.My strategy is to put large down payments on 2 properties (relative to housing prices) to help pay for my living in NY while still gaining appreciation in a growing real estate market.

It gives the Tenant 5 days to pay the rent and late fees, or Vacate the premises.

People arguing such-and-such "Guru" is doing it and doing great, yeah, and how much is that "Guru" taking in student fee's per week/month?

Unlike our real estate investment, there weren’t hefty transfer fees involved in either the purchase or sale.

According to your numbers, I would say to keep it as a STR but as a few others have said, look at different vacancy rates as well management fees.

You should connect with @Fed Finjap; I just saw on another post that he is also buying in the Chicago neighborhood ofLakeview and he recently went through some lessons learned on a 3 flat in Chicago.Check out his post:  https://www.biggerpockets.com/forums/922/topics/1223655-refl...

When you sell, there are going to be realtor fees, property taxes, lots of costs.