Legal advice - get an attorney to draft the PPM and do a 506c and follow the rules.

Today, the gross rents are $2,875 (exceeding the 2% Rule).

An accountant can help you navigate complex tax rules and keep your records in order, potentially saving you more than their fee.

It not a rule of thumb but its a good indicator you will save more money per month and recoup the closing costs in a short period of time usually 36 months.If you have any questions feel free to reach out or send me an email I enjoy helping and talking REI!

Second option is while finding a good GC to work with or rule of thumb I would say is make sure you don't pay over 25% of construction cost.  

Others follow the 1% rule, calculating annual maintenance costs at 1% of the property value.Property managementHiring a property manager can help to eliminate the stress of residential real estate investing.

All with about 2% rule some  more, All the best 

Rents are anticipated to be 2250/mo so it fits nicely with the 1% rule. 

That 6 ft privacy fence is a good start, but you could also include separate entrances, designated parking spaces, and clear instructions about shared spaces (if any).Noise Policies: Include quiet hours in the STR house rules (e.g., after 10 PM).

Hone Microsoft Excel skills by creating 12 tab pro-formas to practice 1% rule underwriting on $100K single family homes. 4.