This hands-on approach could also give you more flexibility to adjust to market conditions, like listing at the right time.Lastly, even though you didn’t invest your own money in the deal, building relationships with your private money lenders and owner financiers for future deals is key.

I'm looking to connect and surround myself with locals who enjoy sharing their knowledge and experiences, and remember what it's like starting out (especially if you've successfully taken this approach recently).

This approach allows you to manage the property closely, benefit from homeowner loan terms, and potentially increase its value with improvements before renting it out.As you transition the townhouse to a rental, ensure the rent covers all expenses and provides a profit.

As mentioned, there are 2 major approaches: contractor or DIY to resolve.Contractor: Get bids and charge the tenant what it costs you.DIY: Tally your materials and labor cost, then charge your tenant.

But I wouldn't jump into a deal with people I don’t know well or here they are good—that’s not the best way to learn.Instead, I’ll take a different approach here.

@Devin Bost, I understand the dilemma you're facing in choosing between full-service property management and a more hands-on approach for your short-term rental.

Stay informed, adjust your strategies, and make the most of the opportunities ahead.The Palm Beach real estate market is shifting, but with the right approach, it’s full of potential for everyone involved!

The growing inventory, up 36.6%, offers more options for buyers, while sellers might need to adjust their approach, highlighting value and making their properties stand out.Townhomes & Condos: A Shift to the Buyer’s AdvantageIn contrast, the townhome and condo market is presenting more of a challenge.

Your deal structure involves a hybrid approach of a land contract, "subject-to" financing, and flipping.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.