Examples might include areas in the Midwest, Southeast, or Sunbelt regions.Multifamily Properties: Consider duplexes, triplexes, or small apartment buildings to increase unit count and spread risk across multiple tenants.Short-Term Rentals: If you’re comfortable with the management requirements, STRs in vacation or business travel markets can offer significantly higher cash flow potential than traditional rentals.Value-Add Properties: Look for opportunities to buy undervalued properties where you can force appreciation through renovations or better management.Decision FrameworkRun the Numbers: Compare the projected cash flow, equity growth, and tax implications of selling versus holding with a refinance or HELOC.

Many of my clients begin there, then transition to direct bookings once they’re comfortable.

Risk/reward was not something I was comfortable with after looking at numbers and a few things not grandfathered in if a tenant left. 

Like most service industries, there is nothing more important than the human touch as that is what people relate to and feel comfortable with.

Are you comfortable analyzing ARVs, purchase price, 70% rule, rehab costs, holding costs, etc

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

I pushed back on the idea of an up front transaction fee of 10K and told him that I'd be happy to pay a transaction fee at closing, but wouldn't feel comfortable paying 10K without it being tied to an acquisition.

Get out of your comfort zone.

It’s wise to start with breaking even and ensure you're comfortable with the costs involved.Happy to connect if you'd like to discuss more!

As such, I’ve focused my research on out-of-state opportunities, particularly in the Midwest and other promising markets.In order for me to comfortably leave my W-2 job, I would need to secure no less than $350,000 annually, as that supports the lifestyle we’ve grown accustomed to.