With real estate, you’re owning a physical asset that’s less subject to daily fluctuations.

We do this in Reno, NV (not exactly a booming vacation market) by sharing pictures & proximity to Lake Tahoe, Truckee, hikes, rivers, shopping etc. and other local spotsGood luck and congrats on becoming a Superhost!

I've often found that the biggest competitive advantage you have when you are getting started is proximity! 

Given this, proximity to employment has not been a concern for many people, which is what led to population declines in Washington D.C. during the Pandemic as well as other health and safety concerns.

You aren't the insured in this case.Renters insurance does not cover the physical damage of the real property - it covers the tenants personal property and other things. 

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

I have actually been thinkin about cutting losses honestly, I am not sure this is the best investment I could have made as my first but worried about how much of a loss I would have to take.It is meant for S8 for sure, I would have a stringent application process, and give the neighborhood a C from my research.I invested there because it was the first deal that basically fell on my lap where the mentor works with agents that Seller Finance deals, it was only $3k down and had thought the proximity to St.Louis would be attractive to tenants also.I effed up on waiting to post for rent until after all repairs and the COO for sure.  

Many other investors have asked themselves (and others this question) but what I believe it ultimately comes down to is what are your goals (how much money you'd like to make), are you physically able to manage it yourself and do you have the right organization and systems in place to do it on your own. 

Albany is also an attractive option to New Yorkers because of the price-point and proximity to nearby colleges.All the best!

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.- Maintain proper records, such as contracts, settlement statements, and promissory notes.- Additionally, you can track income and expenses consistently using software or spreadsheets.If you track everything, you could show a loss and use that to offset other earned income (such as a W2) which will net you a bigger refund.