If you are considering a property in a location you vacation to, you could also look at doing a second home loan.

Oops I didn't follow the lien laws so I'm going to sue for unjust enrichment is not a likely winner.Again, without knowing where this property is located, this whole discussion is kinda pointless.

Probably depends on the location and part of town if neighbors care or notice. 

STR's can perform even better as you know but its all about location and timing.

Facts- Property Sale/Closing date: October 21, 2024- Property Location: sold in Miami Dade County, FL- 1031 potential replacement property identification deadline: 45 day identification deadline of December 5, 2024.- Seller's residence county: Orange County, FLIRS Notice for reference: FL-2024-10 - Hurricane Milton IRS extensionhttps://www.irs.gov/newsroom/irs-announces-tax-relief-for-victims-of-milton-various-deadlines-postponed-to-may-1-2025-in-all-of-floridaMy Assumptions:A.

Location seems quite good close to Espianade park. 

Real estate laws are local to the state where the property is located.

I'd go for the best location, ideally, but without a strong compromise on your funds.

@Celine Li Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Property located in area of growth. 10.