Lilia’s breakdown of what to consider before investing is something I wish I’d read when I started.To add some color, I had a client a few years ago who purchased a duplex in Austin with a plan to hold for 12+ years.

It depends on what the terms of your mortgage are.Pros-with no mortgage, you have higher cash flow.Cons-if you plan on buying more properties, you are better off saving the money for a down payment for your next place.The big questions are: can you get higher than 7% return if you invest that money elsewhere? 

What’s the plan for your new rental?

Currently have it rented and plan to hold on to it.

It requires careful planning and diligent execution.

Compare these with potential financing alternatives, like a DSCR loan or other commercial products.Exit Strategy: What’s your long-term plan—hold for cash flow, refinance, or sell?

That is something that is growing due to the limitations of STR.MTR is something that will help you but you will have to be a bit flexible in the times that you are planning to come in.Management is cheaper than STR, but you have to consider other factors such as close to places where those MTR are in need.

In 2019 i was at ideal occupancy but none of my STRs are at ideal occupancy today.Do what you want with regard to the number of OTAs, but i plan to never be associated with a single OTA.  

You may wish to think about it as an investment and you may plan for it to be an investment in the future, but until it is an investment it ISN'T an investment property. 3.

I'm not talking about cosmetic fixes, I'm talking adding bedrooms within an existing floor plan, creating a second unit (like an ADU), etc.