Obviously every situation is unique it's on you to check with your intermediary and lender to determine what price range would be realistic to start looking for deals in before it closes so you are ready to roll. 

The property will need to have a slight rehab to get it up to STR standards, but when complete it should easily be a $200k Gross booking revenue property.

This keeps them motivated.Clear Contracts: Make sure your contracts have deadlines and penalties for delays.Regular Check-Ins: Visit the site often to catch issues early and keep things on track.Scaling UpMultiple Contractors: Work with more than one contractor to avoid delays.

Thanks so much for all your inputs, would def check out Rookie podcast😊.

@Bart TillyThere are various "standard" agreements available in the marketplace (e.g.

You need to up your standards or life as a Landlord will be very difficult.One violation and I would evict.

If you are looking to start with development I would check out these resources: https://www.biggerpockets.com/blog/rookie-319https://www.biggerpockets.com/forums/44https://www.biggerpockets.com/blog/why-investors-should-be-f...

I'm not sure where your market is but I could help look at land costs. we are trying to educate building to rent or building investment properties as a new strategy to just buying the garbage new builds around the country. this fits on lots as small as 3500 square feet. you'd have to check local zoning but if I had what you had that's what I'd do or at least look into it. 

Always ask tenants to check to make sure it is locked.Another disadvantage is that you have to change the batteries regularly.Another disadvantage is you have to spend quite some time programming the locks and tracking the code3.

What about Debit Cards attached to a checking account?