It also offers a chance to shift into something more passive, reducing the hands-on management that seems to be more of a hassle now that you’ve moved.That said, the rental income potential from your properties is worth noting, but there’s a limit to how much you can boost your cash flow, especially after already making significant upgrades.

In construction, there is only so much you can do to reduce your margins while staying profitable.

Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours.

When it comes to analyzing properties, I’ve developed a specific checklist to make sure the home fits both resident needs and operational goals:Square Footage: Ideally, at least 2,000 sq. ft. to ensure enough living space for residents and staff.No Stairs or Pools: It reduces liability and keeps the home accessible for everyone (this is just my preference).Corner Lots: I love corner lots because they often provide extra parking and outdoor space—both of which are critical for families and visitors.

One of my early properties barely broke even, but after a couple of years, rent hikes and expense optimization turned it into a strong performer.For cash flow benchmarks, I usually aim for $200-$300 per unit, but your situation.. house hacking.. offers unique benefits like reduced living expenses and quicker equity buildup.

We have had to reduce nightly rates 30% just to get bookings in my area which is Port Saint Lucie, Fl. 

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

There are two large community pools, which are heated during the cooler months, tennis and pickle ball courts.The minimum STR period has been reduced from a year to six months.

If he’s open to it, that could reduce the upfront capital you’d need while making the process a lot smoother.

Any unused funds from the engagement fee are typically credited to the borrower at loan closing, reducing your total cash to close.