The addition of a private balcony and standout interior design further elevated its appeal to both short-term and long-term tenants.

I understand the cost of having to separate meters and purchasing additional water heaters and such will be hefty.

Determine how much money would be needed to handle each risk, and determine if you have sufficient liquidity / cash flow to ensure you can “stay in the game”.This is of course in addition to all normal “due diligence”, financial forecasting, etc. 

There is not one site where you can look up all the data.

In addition, if you are buying in a remote market its appropriate to budget another 10% for property management.

Mark Munson Thank you I love this site it is so helpful to a rookie😊

You might also consider forming an LLC to manage the property-related business activities while holding the property in your name to stay within your lender’s requirements.Explore safer rental strategies: If you’re open to short-term rentals, Airbnb’s Host Guarantee provides additional liability coverage, which may offer peace of mind while keeping the property in your name.

Plus, living on-site has its perks for managing tenants.This list could go on and on... anyway, would love to connect!

We chose this timing because 1) there was less chance of additional issues making the refund seem inadequate, and 2) it created a positive impression right before guests were likely to leave a review.

If you have the other income and can afford to keep rolling your RE profits and additional money into growing your RE empire for the long term then there is no rule saying that you shouldn't or can't do that.