Quote from @Benjamin Sanders: Hi all,My wife and I made a last-minute offer on a rental property in New Albany that is in a flood plain.

Most 4/2 houses in the area are renting for approximately $2200 and offer washer, dryer, and internet (which I think the builder provided for all new houses in that community).

You should be skeptical of anyone who offers you a "jewel of a deal".

We knew the place was special, that's why we jumped with a full-price offer.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.

If you're looking to get a condo and you purchase on floor 3 or above, I would say Flood coverage is probably not necessary.Murrells Inlet has some great things to offer. 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

I get a digital copy with every return along with the offer of a printed version.

I told the couple that I got an offer for $1,700 but wanted to ultimately rent to them but need the income.