Are they at market rent, or locked into below-market rates?

Welcome to BP~ I want to encourage you to look in your local area.  

I do STRs, building some now. 

Looking forward to seeing your progress and connecting more!

It's tough in this market but not dead, off market deals are very tough to get right now and you have to jump on them when you see a good one.

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

He has emailed us listings of various properties for us to look into and evaluate.

Lesson learned: stick to your lane—know your expertise and don’t dabble where you don’t shine, especially with demanding clients.Rural Class B multifamily is our sweet spot now—lower stakes, steady returns, no custom skylights in sight.

But if your goal is to cashflow positive from the Day 1, you may find it very challenging due to current day interest rates, high cost of construction and the fact you won't have the efficiencies of a seasoned developer building at scale.

My profile has my YouTube channel and I have an episode that shows you exactly how to create the comp set and look at amenities that matter, what others are paying for cleaning and how other listings look - that way you can see how to best market your property.