I believe you only have 30-60 days to occupy, so you better figure out the notice quickly.

I think you have a few steps to figure out, but seems like you can put it together to make a good decision.

He figured worse comes to worse he could sell the property for land value and still recoup more than he paid for the property.

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

@Christopher PrideWhat is the median income of the area, so you figure where rents can go.

Chronologically, I would suggest talking to a lender first to figure out how much you can qualify for.

I am trying to figure out the numbers to see if it is profitable.

So the question is have you guys ever used a hard money lender before do you recommend it or just figure out how to get the cash yourself or find properties that can go for conventional if the seller even considers it I own a contracting company and a moving/junk company so our projects I know for a fact I can do at a fraction of the cost as most investors but still I’m getting out bid to no end where I can’t see the money at all I’m not sure what there seeing but that’s a whole other story Anyways would love to hear from you guys if you used hard money lenders before and what to be careful with I’m just trying to see all my options Thank you in advance 

But those figures do include the onsite-manager, who basically just pays a discounted rent in exchange for doing the onsite-manager duties.

Same here, when starting out, figuring out how to build something sustainable.