When considering a vacation rental property, it’s essential to have a backup plan and understand the numbers for annual leasing.

It essentially includes having a buyer for a specific property BEFORE entering  in a contract with a seller.  

However, there are other loans designed for fixer uppers referred to us hard money loans, bridge loans, or fix and flip loans but whatever you want to call them they're essentially short term, interest only loans with no prepayment penalties designed to finance a higher % of your purchase price and typically all of your renovations not to exceed a certain % of the ARV (typically 75% max). 

It's usually best to talk with your neighbors about your plans and get their support as one of the variance tests is that the requested relief does not cause a public health issue or alter the essential character of the neighborhood.Try googling "tests for a variance in [your state]" and talk with your local zoning department.

It does really eat into your revenue, but if you're convinced you can't manage it yourself from a distance, you will need either a PM or a co-host.

The PM company needs that information to complete your annual 1099 and their 1096 to report the gross rental revenues received on your behalf.  

They’ll be essential in helping you navigate challenges and scale efficiently.Since you’re planning for 2025, now’s a great time to start networking, analyzing deals, and learning about financing options (especially if you're a first time flipper..). 

One word of caution: the court orders typically allow repairs to make a home habitable, i.e. rent-ready, but not cosmetic or similar non-essential repairs, like upgrades or additions.

Anyone that is looking at your assets is always going to need to factor in property management, so you can show that as a real expense (and really make it as high or low as you want).I work in a vertically integrated real estate and development company, and I cannot imagine how things would run if we did not have an internal property management company that essentially works for the other companies but also stands on its own.

(I have tried AirDNA's free version and have gotten a rough estimate on revenue) Or any other ways to get a solid idea of the potential of the property to show to our potential investors?