I had the capital and I did enough research and I didn't feel like I was gambling.

I had the capital and I did enough research and I didn't feel like I was gambling.

I feel like this was a big gamble for the OP because if other STR landlords are irresponsible, the association could stop STRs- but he should be fine if he has to transition to long term and rent a room at the hotel when he’s in town. 

It also would be a weird letter to send to a lot of the duplexes here in town, because most of them are in subdivisions full of identical properties.At this point I think it's basically gambling unless you're committed to mailing the same addresses 8-10 times minimum over the course of several months.

However, in this crazy Dallas market I think it is more of a gamble; since nothing cash flows, I would be banking on the property appreciating vs bringing in passive income.

@Wendy DetersI wouldn’t gamble your retirement on flipping.

There is a west sac BP meet up hosted monthly at Kick N Mule sports bar in West Sac by @Sergey Tkachev.

I’m even willing to make the payments under the gamble of never getting it refunded, if I can get proper documentation. 

I would stick with a single family 6-9 bedroom as there are far less of those than condos, townhomes and smaller single family..so more opportunity to capture larger families, tour groups, sports league tournaments etc.Hope this helps!

My name is James Brackin IV, I'm a 17 year old soon to be real estate investor/licensed real estate agent, I am also a sales associate at dicks sporting goods saving everything I can to pay for a down payment on my first rental property along with getting involved in a Keller Williams real estate team!