As a starting point: -If they work full time and make $700k a year -Don't want to or can't spend time self managing a short-term rental -Don't have a spouse who wants to take the lead on managing the rentals They are likely not going to directly reduce their taxable income with real estate year-to-year. 

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

For those of you who are starting out and want to learn more about real estate depreciation and cost segregation! 

Most larger communities will have a Homebuilders Association, i would start networking to find a builder that can finance the construction. 

You could start by checking out Upwork or Fiverr—those platforms are great for beginners because you can create a profile and bid on jobs.

But, I had a vision, and I had a decent chunk of capital to start with (don't worry, that didn't last).

The ban in Asheville proper started in 2016 though, and we don't seem to have more affordable housing as a result.

Cosmo - I personally don't know Phoenix well, but if I had to do this in another city I would look at income levels, crime levels, and population growth (if you can) by zip code and/or area within a DMA as a starting point.

There are very few visitors starting mid-October and until around April. 

Go to GET STARTED > EVENTS AND MEETUPS at the top of your screen.