I also have some buyers looking for properties in Virginia as well as north Carolina.

Love your journey so far—turning that first property into a big win is inspiring!

Quote from @David Cherkowsky: Hi All,I purchased an investment property in the middle of last year and to this point have been using 0.75*lease value in my DTI calculation.

I’m a real estate broker, Investor, and property manager in Lee County.

Now days you don't buy a deal you make the deal either with how you operate the property, how you finance the property, or how you purchase the property.

If loan balance is $300k and it's worth $400k and an equity partner puts $40k to bring it current then they have about 40% of equity in the property - now they would not take straight $40k as probably more costs involved.

If your guests are leaving standard 5-star reviews, that’s great—but if those reviews could apply to any rental in your area, you’re still competing on price.If they’re leaving raving reviews, your property becomes the go-to choice—at premium rates.

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

FICO is 780+ and currently have 4 other investment properties including 2 STRs in the same market we are trying to close on in West Virginia.

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.