Every Week I scan the MLS, navigating cities and towns in South Florida that are friendly (and not friendly) toward short term rentals.

Plus you can claim depreciation on any portion of the real estate that has debt on it and the gains (if you are in the right city) far outweigh the UBIT/UDFI costs.

I use Beyond pricing in my vacation rental markets and Pricelabs in my city/mid-term rental markets.

One of my biggest wins of the year came when I refinanced my mortgage.

There is a lot of inventory in Jersey City, so compared to the rest of the state, there are opportunities there for good STR operators.

Even a great deal can turn sour if the area isn’t aligned with your goals.What’s been your biggest hesitation about getting started?

Tenants in many markets already believe they pay too much (contrary to recent studies that show rent to property values have never been lower for the large US cities).If my insurance costs are not double my current rates over the next couple years, I will be pleasantly surprised.  

I am a firm believer that most of the reason is between our ears, and the potentially crippling self limiting beliefs are the biggest problem.

I've spent the last 3 years nagging the city to sell me a lot next to my property so I can install a driveway and they've finally agreed.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!