Hey Todd, that’s a real juggling act you’ve got.. balancing one home in Florida with another new purchase in Oregon.

I had to add an addendum for the home's contents in the agreement. 

If you can get a better deal on the home due to age its a fine and if you need financing banks do not judge year built. 

With a budget of $300K-$400K, you could potentially find single-family homes or small multi-units in those areas.I'd recommend researching rental demand near universities like Duke or NC State or even checking out neighborhoods with strong job growth near tech hubs.

My advice is focus now on building your branding, business and client base in real estate.

Note if you go over 4 units, your valuation will be based on NOI and comp rate.  

I haven’t gotten a tour yet, but based on driving by and photos of the inside, it looks ready to rent right away.

Being local affords many conveniences based on access and your knowledge of the area.

Or, at least a contractual commitment from him that we can revisit the share allocation based based on the depreciation recapture based on when, and how much, we sell the property for. 

Permit eligibility is based on region (usually the west side of town) and density (quantity of surrounding STR's in the area) as well as percentage of landscaping and minimum parking requirements.