I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

What was the purchase price of your property?

hi Jarrod, congrats on the 4th purchase!  

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

Mortgage lenders will qualify you for a higher purchase amount for multis than they would on a single, because they will count the rent you will be making on the other units as additional qualifying income for your loan application.

It's common practice to stock enough for a few days, as you've been doing, and let guests purchase more if needed for longer stays.

Not every real estate agent is an investor, and not every agent focuses on 1-4 unit properties, let alone has the ability to purchase them.

We were in a financial position where we could keep our existing home, upgrade, and purchase another home.

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

We purchased our first duplex on January 1st.