For the second time, I've had a guest cancel a reservation, initiating a refunding through my payment provider that brings with it significant transfer fees because Booking.com heavily promotes their "book for free, pay on arrival" policy, which is not aligned to my management platform policy.

That said, if you can afford it and have the reserves, and more importantly think you have a decent chance of increasing revenue with the vacant units then I'd probably go for it.

Choose the Right LocationProximity to Campus: Prioritize properties within walking or biking distance to minimize transportation costs.Safety and Security: Research neighborhood crime rates and local security measures.Access to Amenities: Look for nearby grocery stores, healthcare facilities, and entertainment options.3.

I would have reserves beyond that though.

There are FTHB bridge products where are you need is a 640 score and 9 months of reserves.

Are you reserving for cap ex, maintenance & vacancy?

See what down payment and reserves you need and make sure you have that in place or if not, you know what your goals are for 2025.

I have cash reserves and money in retirement accounts, but I don’t want to dip too deeply into my reserves.

Long term rental numbers are hard to get cash flow with added in reserves for maintenance, cap ex, and vacancy.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.