I live in a town of about 100k people here in Dothan, AL, so STRs aren’t the most popping market.

I used a hard money loan to purchase this off market deal.I rehabbed the upper two units within two and a half weeks and have a renter already lined up for one unit.

It seems most off market deals I've found have been from larger acquisition groups.  

The strategy may change, but every market can work.

Good market or not so much thx 

There are only 2 ways, as I see it in the current market, to get actual income/cash flow from a rental property - a paid off long term/mid term property or a well bought short term or rent by the room rental.

Since it is a family member and I would potentially buy the property for under market value.

I'm actively seeking mentorship from someone with experience in similar markets who can shed more light on this process.

Much like other markets in the Midwest, investors go to our market because of the low barrier to entry.

I am trying to figure out what to do with this property and would love to hear your thoughts or ideas around this.The rent is below market but the apartments arent updated.Options:-We could keep the property and make the repairs, but would be at a loss for a couple years until rent covers expenses.