@Chris Lin, I appreciate your candor and sharing your experience here at BP. 

Warmer' Winters: While we still experience snow, the winters here are generally milder compared to New York.Growing Market: Nashville is a booming city with an insane housing market, presenting countless opportunities for real estate investment & House Flips.We also seized the opportunity to buy a beautiful foreclosure home for $775k, which is essentially a mansion with incredible value/equity (Worth $1.3M).

After my experience of buying 2 Class C Indianapolis properties in 2023 "cash flow on paper" I saw the writing on the wall.

I look forward to connecting with like-minded individuals, learning from your experiences, and contributing to this community.

I would greatly appreciate any guidance or experiences you can share to help me make an informed decision.

Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.

Does anyone have experience with banks that offer these without fees? 

We would like to create a partnership where we are 50/50 partners and he brings the cash and I bring the experience, knowledge, and contacts ect.

Also, at this time I had seen properties selling for 10 – 20% over ask regularly.Interest Rate 30 year conventional 7%Homeowners Insurance = $1,000 annuallyRents = $1,800 per monthWhen I looked at those assumptions, I would need to put down $80,000 on this house to get it to hit my cashflow goal of $500 minimum per month which equates to 35% down.Total mortgage + escrow = $1,267.13 per month with rents at $1,800 my monthly cashflow is $532.87.From my experience, after taking out vacancy and maintenance costs you are left with around 73% of that total cashflow number once the rental is established.People have asked why a $500 per month cashflow goal.

I was wondering if anyone has any experience developing or owning something like this.