We were just happy our first and second mortgage was going to be covered and have a little cash flow at the same time.

This deal doesn't meet the 2% or 50% rule of thumb, but it has positive cash flow and is in a growing market, according to the latest 2024 Top 100 data from BP. 

What is your time worth to you?

You don't provide enough data to know.Every product is only worth what you are willing to pay for it. 

Purchase price: $350,000 Cash invested: $10,000 House hacking my first home by converting the master bed into an independent studio that we rent on Airbnb What made you interested in investing in this type of deal?

You are not even scooping your initial investment so your cash on cash return is negative.

I’d like to connect with you and others about buying a home near Cold Springs (Toulumne County)  to turn into STRs (permit process, cash flow expectations, etc.).

It's certainly worth the cost of having him review the contracts and inform you of your rights.

To get started, define your investment strategy, run cash flow and ROI calculations, network with local investors, and explore financing options like DSCR loans or HELOCs.Good luck!

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it.