@Wale LawalThank you for the detailed advice!

I would love to hear a more detailed explanation on why your accountant recommends this if you are able to share with us the more precise reasoning. 

Thank you for taking the time to reply and for the detailed insights – I really appreciate it!

Please share below or DM me.Here are the details:33 Units, $4.5 Million.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

As you may know being local, SB249 is the bill that came up as a defense against towns like North Conway trying to shut down STRs, but it ended up in zombie state due to the sheer nature of diametrically opposed views on the matter and Governor Sununu’s push to do better than what the bill ended up proposing.Some details here: https://legiscan.com/NH/bill/SB249/2022As with all areas in New England I encourage investors to start thinking of oversaturated STRs markets as expense offset versus cash flow properties.

Now I always have every detail in place before I move forward with my properties.

The only hope of making any money here is either be on the tiny end that you can turn into a showcase for not that much money, or the high end 6-10 bedroom homes that can hold 2 families or 1 really big family.

@John Arena you may want to review your property management contract in detail to understand what services you hire them to perform.We find that many STR PMCs are NOT really PMCs, but are Guest service companies. 

There are so many details a professional firm will find vs.