It can be done but I would probably also diversify it in private lending or another type and just not NPN's.I think reality people need to understand is the days of 25%+ returns are only happening if the operator is on top of their game but stuff is being sold and priced out at 15-20% and that should be the expectation.

The bookkeepers then assign the cleaning cost to the correct owner's statement to be reimbursed at the end of each month.I pay them through Venmo in a bulk payment every couple weeks, which is linked directly to my Operating Expense account to pull the funds from the OTA payouts we receive.

I focus on Columbus, Ohio, which has seen significant growth, especially with tech giants like Intel, Meta, Amazon, and Google setting up operations, driving up property prices and job opportunities.

Some of the main reasons are that operating expenses, acquisition costs, and capital expenditures take a substantial amount of any would-be profits.

I think the experience of the operator is the biggest risk factor we see.

I agree with Chris.I would recommend you partner with someone with experience as an operator.

I will lever it lightly with assumable debt, or not at all, and keep this conservatism going until cap rates are ~100bps above interest rates on property of reasonable quality and nearby where I live and operate my business.If that happens next year, I’ll cash out refi to a moderate debt level and buy!

My family owns REI Nation and Premier Property Management Group, and while we primarily operate in the Southeast, we have one of our main offices in Southlake, TX.If you’re ever in the area, feel free to stop by and meet the team.

Do you have any interest in working with a local turnkey operator in AL to help you acquire a completed property with a renter already in place? 

All you need is the "master" account, that is the operating account, the cells can be on your books with each cell member.