Another key change is making sure your contractor actually sticks to completion deadlines...why, because of how extremely tedious permit inspectors are getting in some cities, which can slow progress in and of itself.

Dealing with the City for permitting.

Many of them now have very restrictive permitting requirements.However, I have a real soft spot to Edisto Beach.

Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

It is quite rural and it is much easier to get a permit for these sorts of things if you even need one.

This had nothing to do with economic or underwriting issues but was driven by covid and many workers beginning to work from home. 

Renting your primary home to yourself is not permitted by the IRS, as it does not create a legitimate landlord-tenant relationship.

One key factor to confirm is whether the STR permit is transferable, as regulations can change.

Just make sure you have all the required permits, including alcohol.

I’m considering amulti-family property in the 76104 zip code of Fort Worth, TX, and I’d love your feedback to help determine if this is a good deal.Property DetailsAsking Price: $169,999 (seller says it’s negotiable).Current Rental Income: $2,400/month (duplex is vacant).Configuration: Combination of duplex and triplex units.Some units are rented at below-market rates.The duplex and need rehab.Historical Income: Seller claims it previously brought in $5,000/month when fully occupied.ConditionBuilt in 1934, so it’s an older property.Some permits were recently pulled (e.g., plumbing, window replacements, and sheetrock repairs), but it still needs work to get the vacant units ready to rent.It’s located in a neighborhood with a higher crime rate but also near major highways and areas with rental demand (e.g., downtown Fort Worth and Texas Christian University).My Goal:I’m focused on cash flow, and this property seems like it could work if I can stabilize it.