Its a very poor situation for the original owner to be on the mortgage for years and years without the benefits of ownership and the control.  

Personally, I wouldn’t invest in a market where appreciation averages only 2%.

There are really great REI opportunities in different markets - markets in the Midwest and Southeast of the country are particularly lucrative - where not only are the purchase prices reasonable for most RE investors, but the homes are turnkey (new builds or completely rehabbed homes, tenant ready, systems 10 years of life remaining on them, property management teams in place) with appreciating home value AND appreciating rent.

Most cost segregation firms will provide a free cost/benefit analysis quote to help you determine if the tax benefits from the study will outweigh the costs.

Would love to hear more about your plans and see how the market is shaping up for investors.

In our market (Charlotte,NC), the RE Attorney we work with mentioned that the majority of the evictions he saw in 2024 were from zillow applications!

I was sent an offering memo by a broker selling a multi-family building in an area no reasonable person would even consider affordable housing material yet the marketing materials made a point of emphasis to detail how the property would satisfy the need for affordable housing.

And when an all brick 5+ unit comes to the market it is grabbed up incredibly quickly and oftentimes on future value not todays value and current NOI.

I’m brainstorming ideas on how I can market myself to potential mentors in the STR game in order to gain experience.

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?