I own a couple vacant lots and looking to purchase more in a small area. 2/1s in Memphis, as far as I know, are as desirable as in a bigger market.

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

What purchase price? 

@Roberta Allen - i purchased with the upgrades.

So far I've owned the place for 4 months and have not had any issues with my tenant yet.Am I Happy With My Purchase?

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

I went through similar experience when I purchase rentals from a turnkey provider in Indianapolis.

Congratulations on the purchase!

The buyer agreed to cover the cost of the new appraisal, which came in significantly above the purchase price.

Purchase price: $500,000 Cash invested: $100,000 AirBNB in West Sacramento