Maybe he made up the last part just to **** with me, I don't know, but he is not typically a man to show fear like that.

@Renee CossRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

But here are some really interesting numbers...Ok so this one doesn't look too bad but notice how much more the townhouses and condos dropped in prices over the last downturn.2007 peak to now isn't so good...Before the 2007 run up to now is better, but even then, apartment condos performed the worse (so best case scenario, you have the worse performing asset type, worse case scenario you had a terrible return), and that's assuming you had nothing go wrong with the condo (special assessment etc)But benchmarks don't even tell the whole story, because if you had a specific condo investment, and you tracked it's value overtime, benchmark prices isn't the right approach as it evolves overtime (benchmark price is the price of a typical property generated at each point in time).

What set up costs are there and what's a typical price range for them?

The latter will typically cost you more, as there are two sets of closing costs and the front side will pass their cost on to you, so you pay twice essentially.

It's a leap of faith but, yes, we typically book a time we think people will want and then float it out there. 

How do ppl typically search for mid term rentals.

For more info, my family is in the middle class and are working through the typical American Dream.

I have local lending partners at the ready if you need a referral, one of whom can now finance beachfront condos and condotels with only 15% down instead of the typical 20-25%.I follow KeyData metrics for vacation rentals.  2024 has been a solid year for Myrtle Beach short-term rental owners. 

It's definitely more common up there (Gilpin County where the regs say you can camp for 30 days with a camping permit and neighbors are typically less likely to complain/ code enforcement is less likely to notice and enforce).