We sold a wonderful two unit STR in Depoe Bay in 2024, which generally is a no-go zone but has neighborhoods with specific commercial zoning that allows for vacation rental usages as well as a brand new development of luxury homes that allows STR usages similar to Olivia Beach in nearby Lincoln City. 

Hey Nithin, one of my client's closes today on a next gen home that they plan on renting out the separate unit.

I have a couple of friends who have several rental units in Gettysburg and said the rents are good and he has many professionals who stay for a good amount of time and pay on time.  

Is there more long term appreciation possible if you hold the units longer?

We have had our units on RentRedi for three months and have had the same experience described above. 

Since your an estimator are the materials and labor based on facts (i.e. hard costs a labor units) or a guess.Nothing personal but I wouldn't consider anything you wrote there, if I was buying I'd do my own estimate/SOW. 

The biggest thing with this is if something major happens are you legally covered if the unit is illegally rented. 

Investment Info:Small multi-family (2-4 units) buy & hold investment in Madison.

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

I have missed out on rent from an empty unit.