However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

I recommend considering your cash flow and debt-to-income ratio before making a decision, and consulting with a financial advisor to tailor the choice to your specific needs.Good luck!

Being a responsible person has nothing to do with the financial calculation for rate of return or cash flow. 

We've found it's more capable than others when it comes to integrations, reporting capabilities, and efficiencies.The software you've mentioned will be better for the PM activities (property-specific transactions) than keeping up with your financials as a whole. 

Even if the “guru is financially successful, there’s a good chance his success is based on selling mentorship’s rather than investing profitably.  

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

Wealth Building: Paying off the first STR focuses on cash flow and financial security, while buying another property focuses on scaling and wealth building.

Personal Financial Statement Borrower’s Schedule of Real Estate – or- Resume illustrating experience2-3yrs Personal & Property Tax Returns – All schedulesPrevious Year and YTD Property Profit & Loss statement w/ detailed expensesRent Roll w/ detailed lease informationCopies of all Leases3mo.

Remember, not every single decision in your life has to make financial sense.

This deal proved to be the perfect balance of financial gain and personal enjoyment.