I’m still learning the ropes of property management, so I really appreciate the opportunity to exchange ideas.At our property, we have a structured screening policy influenced by the Federal Fair Housing Act since our location falls under its scope.

If you’re using financing, this situation might also influence lender decisions.I have many rentals in Jacksonville FL and have had to evict three tenants.

I probably should have pointed out in my earlier post that there were these other factors that influenced my decision not to own in that area again.

They are not the passive income dream that some influencers will have you believe they are, and getting a “free” laundromat likely isn’t as good of a deal as it might seem.

TENANT PROFILE: tenants are the biggest influence on Neighborhood and Property Class.- If you don't believe us, think about what will happen if you put several Class D tenants in a Class A apartment building.

On the other hand, true private lenders are not professional lenders and hedge fund type lenders (which is what hard money lenders are), but instead are regular people in your circle and sphere of influence.

@Tove Fox - Residential Real Estate InvestingPros:Lower Entry Costs: Easier to get started with less capital required.High Demand: People always need homes, making demand relatively stable.Easier Financing: Mortgages are generally easier to secure with favorable terms.Simplicity: Easier to understand and manage, especially for beginners.Flexibility: You can use it as a personal residence or rent it out.Cons:Tenant Turnover: More frequent turnover leads to vacancy and more management.Lower Cash Flow: Income potential can be modest compared to commercial properties.Emotional Buyers: Residential prices can be influenced by emotions, leading to price volatility.Maintenance Burden: Landlords often deal with repairs and maintenance, which can be time-consuming.Commercial Real Estate InvestingPros:Higher Income Potential: Stronger cash flow and higher returns are common.Long-Term Leases: Tenants often sign longer leases (3-10 years), reducing vacancy risk.Professional Tenants: Business tenants tend to take better care of the property.Valuation Based on Income: Prices are based on the income the property generates, not market emotions.Shared Costs: Tenants often cover property expenses like taxes, insurance, and maintenance (via triple-net leases).Cons:High Entry Costs: Requires more capital or partnerships to get started.Complex Management: More expertise is needed; you may need a professional property manager.Economic Sensitivity: Commercial properties are more sensitive to economic conditions.Challenging Financing: Securing financing can be harder, with stricter terms and higher interest rates.Zoning and Legalities: More complex regulations compared to residential properties.Key Differences:Risk: Residential tends to be lower risk, while commercial offers higher rewards but with greater risk.Management: Residential is easier for DIY investors, while commercial properties usually require a team.Scalability: Commercial properties are easier to scale, offering more potential for significant cash flow increases.

Your nightly rate will be influenced by proximity to the beach, interior design and amenities (ex game options, fire pit, pool, etc).

Humans are highly influenced by recency bias thus the cash vs equity conversation swings back and forth.

When you get to rural areas, even in Tuscany, you need to more risk-adverse as the property value might not increase, unless you have another operating business on it like a boutique hotel or vineyard, that you can blast social media influencers to get more people to come.