Text and verbal agreements are legally binding in Virginia (where the rental is).I really believe she initially intended it to be a year long renewal, as she also remarked she was very happy, as it is only a block walk for her daughter to school.She now has a boyfriend (he hasn’t moved in), and a house they want to move into together, so she is giving notice.She is focusing on the clause in the lease that states: “HOLDING OVER: Any holding over after expiration hereof, with the consent of the Owner, shall be construed as a month to month tenancy in accordance with the terms hereof, as applicable.

Jokes aside, I believe @Noah Wright's post brings attention to another issue and that's the smaller investments many capital raisers are seeking.

But we do not believe she can afford it.What is the best approach? 

I also believe that jumping into a flip / brrr as a first deal is a good way to never do a real estate deal again. 

I would gross $200,000 before other costs.I believe the demand is there to get ownership of a beach house for $250k; especially since conventional financing is now available and beach houses are only used for 3-5 weeks a year at most.

@Tyler LingleMany people believe that starting an LLC by using the one-page form from their state or ordering online is all they need to do.

We've never met more than 60% of our clients in person, and few have ever come to see their properties.In my opinion, you're better off researching potential cities online and interviewing potential investment teams via Zoom than traveling to the city.This is the perfect example if you sit on the internet how you can and will lose out on massive opportunities, " Never invest in these cities, " TERRIBLE advice from the internetI can only speak about these cities from personal experience, ALL HAVE BOOMED, and have provided massive % returns over the last 10 years, West Palm Beach, I can't believe this is actually on this list, makes zero sense, MASSIVE returns over 10 years,Columbia SC, Booming!!  

I do have professional videos and a footprint map but I do believe people may still believe those are stolen digital videos.  

While Quickbooks is not the cheapest, it is very intuitive and saves me a little on my accounting bill because they a) don't need to do the bookkeeping, and b) it comes to them in a format they can quickly review and add to my tax filings.I believe, as long as you have fewer than 5 properties, Zillow is a free option to use.  

I have done quite a bit of digging and I've been told by multiple agents that these are the only two that don't have rules against STR.If you're serious about going this route, I believe that these two buildings would be a good place to start.Also, if you're not completely set on the buildings being full amenity, I agree with @Michael K. that you can find some multi-unit gems in great neighborhoods and operate them as STR buildings.