Front unit i think market price is around 1600-1700, but i am planning for 1500-1550 to gain advantage on rentingit's a popular rental area in trending neighborhood, so it has a lot rental on the market and a lot investorfirst regret is i think my offer was too high, i offered asking price at 224k which with my 10k deposit and no inspection (i did had a long term contractor go take a look with me) i can likely get the house for cheaper, it went from 300k to now 224k from last year, so 8 month on market, i could get it for maybe 200k or 210k insteadOriginally i planned to have some minor interior update include few windows, which i am estimating around 3k, but noticing the 3rd floor shingle siding was aging and looks like just matter of time, so i had to replace 2 more exterior siding that need scaffolding, long story short, my repair cost went from 3k to around 8-9kmy dscr loan is 7.625% 30 years, my monthly would be $1577 PITI + water (say $230), compare to my expected rent of $2430, so $623 remaining each monthsome concerns are1. it's flat roof and it's just matter of time for me to replace2. i know this market is always trending, a lot tenants and a lot rentals, so it's competitive but popular, i dont know what to feel about it, i have other rental in the city, just not this specific neighborhood3. since there's so many investor in the area, why no one bought it for the price, it was once lowered to 256k before it go down to 224k. when the market was hot, i think 324k would easily sold, but obviously it didnt as that's what they listed in 2023 summer4. unit was managed by management company, last lease on front unit was from June 2022-June2023 rented for $1700, then they later put for sale for 324kon one hand i think the number works, but on the other hand, i keep have this feeling i wanted to back out of the offer, i think also due to my saving would be down to 20k after closing and all the repairs made, which i normally wanted to have at least 30k in bank, also the extra siding job got me scared a bit, and roof that need to be replaced in futureif i back out now, i am going to be losing 10k + inspection 800, so that's close to 11k lostWhat's your take on this, i would hate to lose 11k without any valid reason and just scared myself out of this deal, but honestly i am having some hard time looking forward to this purchase.

I am interested in doing it because I want to own my own STRs one day and think it would be a good window to see if its something I can see myself doing.

Purchase price: $160,000 Cash invested: $265000Purchased this fixer upper that needed new roof, windows, siding, HVAC, updated electrical panel, all new decks and a big update inside.

The caller will go to the house and look in the windows.

That sounded dangerous to me then, and it still does to me today.I have been investing in the Smokies since 2005, and there has only been a couple of "windows" in that 19-year span, whereby an investor could reasonably buy a property and earn much more than break-even in the early years. 

I only have to add a kitchenette and some windows.

Since early 2022, we've been dealing with this issue, primarily near the windows.

That sounds like a pretty good plan, but I would make a few suggestions:1) if you think it may have had squatters or the previous residents would come back, board up the windows too while you're doing the work. 2) If the property was occupied by the owners or tenants, you may need to file an abandonment notice and wait 10 days or so (check your local laws) before changing the locks. 

The kitchen is what's sold me in my first house and it'd a great lay out in my current house.My next house I'll be a bit more specific - bigger deeper sinks, pasta faucet even if I only use it once a yesr for a big jug of summer iced tea lol and a dishwasher, walk in pantry are on my check list.I feel other amenities like skylights or big windows, cellars for dry storage would be cool too but I'm not really a big baker or canner lol.Now it's got me thinking - imagine a hidden island?

The first one they did had a 7 day window to close and we got it on day 5.