I’m working on my expenses spreadsheet for purchasing my first STR cabin near Gatlinburg.

Schedule a final inspection to ensure quality standards are met.Each of these sections would come with an estimated timeline, budget, and list of materials required, making it easy to track progress and expenses during the project.

@Jamie Dupont From a tax perspective, you can deduct repair expenses related to the damages caused by the tenant as long as they’re for restoring the property (e.g., fixing holes, broken fixtures).

I've been through several property managers and properties in various areas and its always the same ****, late or no rent, expensive turnovers, and just lots of headaches.. 

This is where land and home values will increase the most, and where they’re currently less expensive in many cases.

Flippers will have to price in these added expenses to maintain their margins, leading to lower offers on distressed properties.

Will require 20-25% down and can break even after expenses (management, PITI, maintenance)NE Philly, bucks county, Montgomery county have solid mulit families that work the best as LTR from what I am seeing.

On the other hand, a home equity loan gives you a lump sum with fixed payments, which is more predictable and great for one-time expenses like consolidating debt or buying a rental.

If you don't take that seriously the experience can be a painful and expensive one.

Labor costs are high in NYS so controlling your variable expenses is key.