I expect prices to start creeping up in Q1/Q2 once people see 2024 was as good or better than 2023 for the majority of STRs in the area.

However, we are expecting 2 rate cuts this year.

What kind of initial investment should I expect?

@Guenevere F. you're going to need 20-25% down to get a mortgage.If you target $100k, that won't leave you any funds for closing cost, maintenance or emergency reserves.You could try targeting around $80k, but the $16k-$20k down payment would still not leave you with enough.If you buy under $80k, you're probably buying such a low-end property that it is unlikely to meet your performance expectations.

Our properties that are bigger always require mowing crews as you can't expect renters to keep up with mowing that much land.

I hear if you fail it could take weeks for them to come back out so I just wanted to better prepare for that initial inspection and what to expect and also, any issues before then.  

A lot split with 3 year commitment to OO will be a slow scale, but for someone starting out it s low risk with solid expectation of return.  

Good to hear... i'm factoring in an 8% vacancy rate in my per forma, hopefully will accommodate any loss expected .

There seems to be a belief throughout this thread that its alright for a city employee to come onto your property and simply lie about item after item and then send a written agreement in direct contrast expecting you to sign and return it.

Will add though, that a good PMC will immediately alert an owner about what their property really is and the expected challenges.Unfortunately, a decent portion of the time we do this, owners either don't want to believe the Evaluation Video we send them or decide to sell.