@Adonis Williams, you've received great comments: It depends on so many things, including FICO, LTV, type of loan, etc.

I would not buy a larger property right now unless you are doing it to try grab a nice equity bump in two or three years once the occupancy rates for that product return to precovid numbers. 

If you see someone violating the rules, create a post with "@moderators" and we will receive a notification and respond.Again, welcome to BiggerPockets and happy investing!

- Most real estate investing projects have negative cashflow for the first few months - if not the first few years.Keep listening to the podcasts, but pay attention to WHEN THEY WERE RECORDED!

My question is this - does Johnson City receive enough visitation to justify a successful STR?

I’ve received multiple quotes from insurance companies (mainly I would obtain the quotes myself).

Soon I will receive some capital (as the outcome of my divorce).

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

I haven't received my first deal yet.

There will likely be a partnership return required where you flipped a house with a partner and lost $120,000.If you sold the other property within the same partnership, it will also be reported on that partnership return.The net result to you is that you will receive a K-1 showing your income / loss which you then use to report on your individual return.If you made no money within the same year, you likely pay no additional taxes / get no additional refund.Best of luck.