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.

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

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.

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

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

There aren’t many residential development companies operating at this level, which reduces competition and risk.

., retirees, dual-income households, or tenants relocating for work) may reduce risk.Stay Up to Date on Landlord-Tenant Laws: Understanding your rights and obligations can help you navigate issues more effectively if they arise.That said, if the potential risks are keeping you up at night and the financial pressure of an eviction would be too much, selling may still be the best option for peace of mind.

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

Consider starting with a few lower-cost flips with a smaller loan-to-value ratio to reduce financial strain.Market Research: Sacramento can be volatile, so I’d recommend keeping a pulse on local trends—particularly in the neighborhoods that have potential for growth but haven’t quite hit their peak yet.