I pulled data from VRBO for similar 2br/2ba  units in the complex and by my calculations the nightly rate on average would come to $208.

We try to keep good tenants for long term, an dhave several 30 year tenants and a 24 year tenant and average 12.5 years over the portfolio of existing properties.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Enter the STR:Short term rentals are defined by the IRS as properties with an average stay is less than 7 days.

I was able to rent it furnished long term for $1,500 more than the average long term rent in the area.

@Danny Lyu  If you're getting 10% down on that loan product, I would definitely do that and just close in your personal name. 

I'd say a minimum of 15 deals per year on average.

But with this being a 5 unit multi-family building most lenders do not offer a loan product that will take the STR revenue into account. 

The city has good macro economic factors and a strong economy - I looked for cities that were at least better than the national average when it came to population growth, wage growth, median sales price growth, etc 2.

However, my income is inconsistent, with last month’s earnings around $4,000, this month expected to be about $3,000, and an average of roughly $2,000 per month.