My fiancé and I are looking to build a 3-4 unit townhome style multifamily in the Knoxville area.

It's been nice to build different plans and seeing how/when the addition of more rental properties plays out in reaching my financial goals.Just wanted to share, thought others here might enjoy it too!

I did STR in a duplex starting back in 2017 and managed for others in North Conway, Ive since converted to all long term tenants and happy i did so... unless your property has something unique or a "rare" amenity.... like, sleeps 30, I honestly would not waste any energy on it in the north Conway area. so saturated, and so much big money being invested in the hotels, its tough to match amenities vs cost, and I see travelers trending back towards the hotel style accommodations. granted, for the right price, I'd buy anything and figure out what the best use for it is. use airdna.co for decent data on # of Short term rentals in any particular market. can also identify opportunities. the point of my response.... be careful in STR in any area and always have a plan B. you can change a lot of things about a property, but your cant change your basis!

But it’s going to be a while for mortgage rates to come down (as I’ve written about), so for now let’s put that on the back burner and talk about something poignant.

My agent was a super nice lady, probably 75, but no idea about investing.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

If it’s in there, and they aren’t following it, follow @Evan Polaski’s advice above regarding sending written notice of their failure to comply with the terms of the operating agreement.  

People who are able to work their business or job remotely will choose a vacation style locale to live like Florida where we have great weather, no state taxes, and a very low tax rate compared to other states.

Hello, Nice to meet everyone!