Otherwise you spend year 1 paying yourself back for the furniture (if you're lucky) and then hope to make a profit in year 2, only for your lease to possibly change terms, losing all of the time you put into building your brand.

Basically you need to be able to pay a large part of a long-term (multi-year) lease up-front, then still have some cash for renovation and interior/furniture, to finally recoup the investment through STR and a hopefully very quick way.

(downpayment, closing costs, HOA fees, renovation, furniture...etc?)

Occupying 8,000 square feet indoors and 2,000 square feet on a third-floor patio, this will be the largest In-N-Out in the world.

It's a gorgeous loft with beautiful furniture, lighting, great location, and below market rate but I still can't find a tenant.

Broken appliances, missing basics like a cork screw, no artwork on the walls and cold, ratty furniture that was clearly second-hand, noisy neighbors, and more.

The land represents ~1% of the purchaseOn the contrary - if you purchase a $2 MM shack in manhattan on a postage stamp lot, the land could represent 99%Lever 2 - % of the property with a shorter useful life.Not all parts of a piece of real estate are depreciated at the same speed.Certain personal property assets have SHORTER lifespans in the eyes of the IRS vs the standard 27.5/39 year livesProperties with tons of this often have:- Over-developed land sites (hardscaping, pools, retaining walls)- Fancy Fixtures- Fancy Furniture (STRs!)

Not sure if I should structure as a traditional home sale + a separate business package including all accessory structures, furniture, biz ops, STR license, etc.Maybe as an add on if someone wants to use it as a hostel business as well but still open to a traditional buyer purchase separately. 

Would it be logical to STR instead of LTR after project is finished and I move out (I no longer have to U-Haul furniture across the US 2x a year and I can look for markets beyond the Southeast and Midwest)?

I’m looking at two properties about the same price, both around $360k.prop 1: new construction townhouse, HOA of $100, private outdoor patio, 1060 sf, 2 bedroom + 2.5 baths.