I've been listening to the real estate rookie podcast and others like it for over a year now.

Is it over-blown or game changing?

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

By then your deal is over or you forgot the question.

It sounds to me like your Austin home is a "Sell" candidate - while it could appreciate over the long-term, you might be sinking cash into it for many more years in order to realize that appreciation.

Refinance after project, cashed out and continue to receive positive cash flow.

Very, very successful.I sent out beige "invitation" envelopes and "hand written" letters (used a computer with a "hand written font" for months - about 200 a week - lots of calls - bought some properties, over all successful but time consumingThis is over the years, so messages changed with the real estate climate and list.List, message, mailing piece.

We had to pay a biohazard company over $9k for a thorough clean up.

This is a great platform to network and to continue to learn.Best of luck on your real estate journey.

Given the expected appreciation, what is your expected total return if you hold it over the next 5 years.Can you cover the large negative cash flow, turnover costs and maintenance from other sources?