For out-of-state investors, I suggest considering a C-class turnkey single-family home.

I’ve been struggling with no bookings for two months and low view rate, and to top it off, the city just set stricter rules for short-term rentals.

Hi Kin,Transferring your share of the property to your brother may have tax implications, including gift tax if the transfer is considered a gift.

What factors should I consider when setting rent per room?

@Lisa AlbrightOne thing to consider is your return on equity (ROE).

Here are the numbers:IncomeTotalPartner ContributionsManaging Partners Debt$0.00Partners Deposits$987,459.99Total Contributions$987,459.99Operating IncomeAirbnb Income$50,186.50Square Income (Vehicles or add-ons)$6,741.04Total Operating Income$56,927.54Total Income$1,044,387.53ExpensesPurchase of propertyCost of House-680,000.00Closing Costs-$26,744.44Total Cost of Purchase-706,744.44Set Up ExpensesHouse Improvements & Care taker home addition-116017.03Adding Tiny House-52130.83Furnishings-68403.65Vehicles-43150Set Up Costs and Advertising-2339.53Total Cost of Set Up-282,041.04Operating expensesCare Takers-14535.9Additional Cleaners-1505Cleaning Supplies-2670House Supplies-1340Landscaping-4230.66Utilities (Power & Water)-8204Internet-315Pest control/fumigacion -120Pool cleaning/maintenance-2220Vehicle Gas-552.3Vehicle Maintenance and Repairs-6625.01Welcome Food for Guests-115Property Repairs-4999.64Bank Fees-1208.06Accounting Fees-1085Insurance-955.74Other Expenses-1071.2Total Operating Costs -$51,752.51Total Expenses-$1,040,537.99Net Income$3,849.54Net Operating Income$5,175.03Now 5k for an investment of 970k is not a good investment.  

For those new to the area, are you considering these areas for your next deal?

Another one to consider is the FHA 203(b) if the repairs aren’t too major and you’re okay handling some out-of-pocket fixes.

Set a goal for yourself based on your needs, your location and your market and shoot for that.

Also, you could consider buying something with "hard money"; this comes at a higher interest rate, but you might be able to get into a property and either flip it or refinance it.