In the meantime, I've come to realise the PM is incredibly incompetent and unreliable, and have found a new one.

Magnolia has an incredible restaurant in another part of Waco, they bought a historic hotel that they are currently renovating, they bought an actual castle in the heart of the city that they are currently renovating, they own one of the largest real estate brokerage firms in the city that continues to serve the real estate market, and they themselves own several Magnolia short term rental properties that tourists can rent nightly to have the full Magnolia experience.

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

People are imperfect and things like late payers is something you deal with in your approach to managing properties more-so than in the vetting process because if tenants were perfect most would be owners not renters.

However, because I need to focus on my business, I'd like to approach the vacation rental investments as investments as much as possible.

I started my MTR journey with a multifamily property as a LTR and slowly converted it one unit at a time and was really happy with that approach.

This doesn’t mean anything is “off”; it’s just how I prefer to approach this.To address your other questions, the property listing states that it has a new roof, plumbing, and electrical systems, which I see as a significant plus.

That is to say that I've experienced the incredible power of an appreciating market and that makes it very tempting to want to keep my current house, rent it out and let it appreciate.

As a developer and land consultant, to have that kind of information at the forefront is incredibly valuable.Hopefully that helps.

I was conflicted on DR's adamant position against leveraged debt, however, having a degree in finance and economics I believed I had well balanced approach.