That being said, I seem to be doing better than most.I had a couple large ticket items to fix last year that really ate into my profits, but I still ended up positive and with a great retreat from the city that pays for itself.

I Keep an eye out from Pasadena, La Porte area all the way down to Galveston, and over to the Alvin area...but recently started purchasing in a completely different area trying to get away from all the other investors and wholesalers.

You might be able to get away with paying the difference between the 1/2 month of rent and short term living cost.I think you would only have legal issues if you deny them use of the property for 2 weeks and charge them full rent.

@Momar MbengueWhatever place you choose, get on a plane and go there: yes it costs money but if you are gonna invest $100k+ on a property spend the $400 on a round trip flight and spend a few ways with realtors and property managers getting to know the area you want to invest.

Another option is to get away from online altogether.

I know of a few STRs in the area that are rented during events but vacant the rest of the year yet Air DNA says we could have 75% occupancy year round . . . 

For that purpose I would like to share some attractive ares that are not as high ticket, and a way to avoid the rent control.

. - Maintenance tickets. 

Here are the numbers (rounded up):- Original purchase price ~ $180K- Current value ~$230K- Remaining balance ~ $140K- Mortgage payment + HOA ~ $1,300- Current rent = $1,700To calculate ROI at the current time should I base it on the initial investment amount (downpayment) or the current equity position?

Interestingly, they've recently negotiated a re-purchase price with us IF we bring new funding to the table.The rehab is required for several reasons: (a) correct the damage the bank has allowed to happen to the property improvements these past few years (known problems include completely destroyed pool makeover; wild animals living inside the residence; flooring missing in sections of the rec center building; destruction of the decorative main entry gate mechanism; lots of dead landscaping; as well as latent defects not known to us such as working plumbing, HVAC & water services) AND (b) expansion & upgrading of the accommodations (converting the private residence to a 2-story lodge with the restaurant/bar, reception/check-in, movie room, public restrooms, gym/sauna/steam room/massage therapy room; enlarged pool & deck area with climate-controlled cover for year round use; conversion of former restaurant/bar building to a general store selling venue collectibles & wearables, selected pre-packaged foods, sundries, RV & camping items, bagged ice & a propane refill station; construction of a free-standing event center; free-standing cabins; enlarged & upgraded RV park with its own small restroom/coin-op laundry building; outdoor activity areas; new landscaping & fencing; new parking area & entry drives (personal car & RVs).We know our target audience having created and operated the former version of this resort for almost years creating an initial membership base numbering about 1,100.