Examples might include areas in the Midwest, Southeast, or Sunbelt regions.Multifamily Properties: Consider duplexes, triplexes, or small apartment buildings to increase unit count and spread risk across multiple tenants.Short-Term Rentals: If you’re comfortable with the management requirements, STRs in vacation or business travel markets can offer significantly higher cash flow potential than traditional rentals.Value-Add Properties: Look for opportunities to buy undervalued properties where you can force appreciation through renovations or better management.Decision FrameworkRun the Numbers: Compare the projected cash flow, equity growth, and tax implications of selling versus holding with a refinance or HELOC.

Regarding getting started, I recommend finding an STR owner who's overwhelmed or just worn out with managing their property, and perhaps who's also not using a dynamic pricing tool, and then offering to manage it for a very small cost. 

The Main St property in Grainfield, KS, offered a promising opportunity due to its low purchase price and strong potential for a high return after renovations.

To maximize returns, ensure compliance with local regulations, prioritize owning the land, and offer student-friendly amenities.

Hi Marc - Aircover offers some protection for damages caused by guests, but it’s limited and doesn’t replace having dedicated STR insurance.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

It'll be easier to start with a turn-key property, but if you have a good contracting team, a value add will typically offer better returns. 

You may also need to provide additional documentation, such as proof of income and employment, and may need to have a co-signer who is a U.S. citizen or permanent resident.In terms of buying with an LLC, it can be a good option for some foreign buyers, as it can provide additional liability protection and potentially offer tax benefits.

@Nicholas McCormick, thanks for the offer!

I wouldn't offer this to start with but these tenants may have difficulty getting out even if they want to be 100% cooperative.