These are top drive-to destinations for much of the Southeast, so short-term rentals here can generate solid cash flow, especially during peak seasons.The area is also seeing steady growth, with more infrastructure and amenities being added to support visitors and new residents.

We have the drive to achieve whatever we put our mind to, the skills to create a very unique and desirable space, and the finances to back up our investment.

However, once we implemented technology a few years ago, even our local clients prefer to avoid driving and switched to doing business remotely.

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

@Wells H. you can spend DAYS driving through Detroit!

This in itself drives off about 10% of the potential candidates.

At least that way you can still drive to the properties if you need to check in on something in person. 

One of the major driving factors for increased premiums is the carrier's requirement for higher replacement cost limits on file for buildings. 

What is the societal value of driving down rents over time?

If they are all in one area within reasonable driving distance then I’d find one PM you like and have them manage it all.