If it's an HOA-based one, or has some other deed restriction, get out of the position.

Things like quiet hours, parking restrictions, etc.2.

Overall not terrible on your first BRRR, but the cost of the reno is almost the same there and the same in the Heights, West U, etc., obviously the barrier to entry is different but so is the ARV.

I already have land holdings near Everett that will certify out at 304 salable density bonus credits.To play this game, I get certified and then "clip off" the transferable development rights for sale to urban developers in the county, who can cash them in for an increase in dwelling unit density from an original 22 units/acre to 58 units, and building heights from 45' to 75'.

Property TypeUnderstand the different types of multifamily properties:High-Rise: 9+ floors with an elevator, often urban.Mid-Rise: Smaller than high-rise, usually with elevators.Garden-Style: Low-rise apartments in suburban or rural settings.Walk-Up: 4–6 stories without elevators.Manufactured Housing Communities: Mobile home parks where land is leased to homeowners.Special-Purpose Housing:Student Housing: Designed for college students.Senior Housing: Dedicated to older adults.Subsidized Housing: Affordable housing supported by rent and income restrictions.3.

If you’re using leverage, be extra cautious with your underwriting to ensure the deal still works at today’s rates.Economic Uncertainty: Inflation, potential recessions, or shifts in demand could affect rents, vacancy rates, and property values in some markets.Increased Operating Costs: Rising insurance premiums, property taxes, and maintenance costs can cut into profit margins, particularly for buy-and-hold investments.Regulatory Risks: Some areas are increasing restrictions on landlords, particularly short-term rentals.

@Placeholder PlaceholderOne word of caution I would advise: If a community or local government is enacting restrictions and also regularly enforcing them, then its often a reflection of the local community sentiment which increases the chance of a neighborhood or nearby resident calling you in if they think you may be running an STR.

Quote from @Jason Harris: Hello MarkI'm in Fairview Heights, and I'm looking for properties in both Fairview heights and the Belleville area.

I also prefer to screen the guests and set my own price/stay restrictions.

I didnt realize there were so many restrictions in Oceanside/Carlsbad.