This post delves into the key components of Raleigh's market as of 2024, including real estate dynamics, employment trends, industry growth, and the overall economic outlook.Real Estate MarketThe Raleigh area has historically been known for its robust real estate market, driven by continuous population growth and a strong demand for housing.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

The owner/seller can, however, control his property’s NOI (i.e. by controlling any component of NOI such as revenues, operating expenses, etc.).

Effective property management for short-term rentals, local regulation compliance, and understanding tax implications are vital components of successful co-ownership.

I don't know the limit but you are getting a 3.5 loan so get a 4 plex or one that can be build out to 4+ or an ADU (value added component) so you can get some nice returns at exchange time. 

You will find that those states without sales taxes have relatively high property taxes (regressive) which are impossible to avoid as one either pays them directly or as a component of rent. 

And I believe we may be over leveraged with something like 7 300k+ homes where a few possible vacancies and/or large unexpected payments could make it all come crashing down.

Any lessons learns or unexpected bumps along the way? 

You'll want to find a partner that has one or both of the other components that you're looking for.

Another component for me to keep in mind is that I have a STR permit on my house and last year, I started renting it out over the summer when I traveled.