You’ll need to treat it like a business—handling tenant management, accounting, legal compliance, property maintenance, and more.That said, when done correctly, it’s a powerful tool for building wealth!

@Aaron Washington wind insurance is a must unless you have master insurance in place that covers your building.

Hoping for $325,000 for the build (budgeting for $400,000 with overages).

And because it’s a logistics hub (FedEx HQ, major distribution centers, and growing industries), rental demand stays strong.I’ve been in Memphis my whole life and have spent over two decades helping investors navigate this market and build profitable rental portfolios here.

Looking for some guidance on resources of how to begin analysis or how to build a business of this sort.

I'm especially interested in hearing about how you've made a PMS geared more toward STRs work with MTR billing and leasing.I do remote operations support for an MTR/LTR company in Denver and am assisting with our tech stack build out. 

Does this matter if you're not optimizing for building a ton of wealth to pass onto kids? 

Short term rentals are legal when the host is living in the same apartment as the guests and there are no more than 2 guests staying with the host."

Success in this business comes down to consistency and building strong relationships.Let me know if you'd like to further connect - I'm happy to provide any guidance. 

I’ll definitely make that a priority as I build my team.I also appreciate your point about using different contractors based on the scope of work.