That being said, I don't have the information I would need to say for certain, but that sounds as if that's a high price for the asset you're considering to buy.

I’d recommend waiting till you have a cushion of some sort depending on your comfort level before you take the plunge and buy the second deal.

So, there is even more risk.The things that you can do, include being properly capitalized, not be greedy, (in whichever way that may be defined in the county you are buying), know solicitation laws, know Dodd-Frank, the Consumer Protection Act, the S.A.F.E.

Hello everyone,I’m a Canadian looking to buy a short term rental vacation home in the Kissimmee area.Currently we own a long term rental home in Winter Garden which we bought some time ago, and will be paid off completely in Feb 2029.  

What ever you're doing to find/buy/create deals is working.

@Taylor DaschYou can buy the property in your own name if it's outside the so-called restricted zone.

I have some buy and hold rentals and have never done a BRRRR.

Some buy to park money, others do 1031 exchanges or they simply buy them for a tax write-off. 

In Pittsburgh it’s the only way to buy rentals haha!

Spend a little more money than you might have been planning to, buy in a better area (i.e. not a “turn key” 100k house off the mls), and self manage.