The challenge lies in managing renovations and the surprise costs that can come with them over time.New construction, on the other hand, tends to be simpler with less immediate maintenance and potentially better loan rates, but you may have to accept a slightly lower cash flow due to higher purchase prices.In the Atlanta area, there are several hotspots for new builds with great long-term investment potential, as well as older homes you will need to pinpoint which type to best advise here.Hope that helps streamline your decision-making!

Hi Caleb Rehg,If you have employees you will have to pay quarterly PAYROLL taxes, but these can be taken care of by a payroll servicer such as Gusto or ADP.Otherwise, if you expect to have a substantial net income from the rental property at the end of the year, you may opt to make quarterly estimated tax payments so that you that you don't get surprised by a tax amount owed with your tax return.

Surprising number of those out there.

I was surprised when I pulled this up for Philly, as if I wanted a license,  and it pretty clearly lays out only an OSHA class is required with getting insurances.

The surprises of a partnership are usually not, "this was easier than I thought it was going to be."

I think we see the correction happen when rates are lower, surprisingly.

Then add in all the fees that are being added by AirBnB, VRBO, etc. and hotels are in many cases a better deal . . . less surprise fees and fewer owners that have odd rules. 

. :) Surprisingly, the HOA has no lease minimums, my real estate lawyer confirmed when I bought there is nothing limiting me from renting it on Airbnb (which was her suggestion lol).

I didn't expect to need to repair the HVAC or the surprise inspection by the housing authority that added $250 of repair work, or there being a week long freeze that upped my utilities by $450 for heating. 

I'm glad to hear it is working out for you so far.  61% occupancy is more than I thought for this area, so I'm pleasantly surprised.