This is a 4-bedroom, 2.5-bathroom single family house.

If the property breaks even, or operates in the red currently, it will only operate deeper in the negative (unless you find a strong ROI like creating more bedrooms, convert a non living space to living space, etc) with another loan. 

Some of our borrowers are focusing on 4 bed 2 bath section 8 to push those numbers even higher.I pay close attention to 4-bedroom homes in Memphis for S-8 clients 

With that in mind, my first idea was to buy a condo or a house in my local area (Palm Springs, CA) and use it as a long term rental. 

What we do to make up for it is create a private bedroom listing to hit a different target audience to fill in some of those vacancies.

If you are going to stay local and considering a condo, you really have to look at fixer condos and at least 3 bedrooms for it to have potential.

I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.

Having a big house with our own bedrooms but a shared living space to gather late at night, that's something a hotel just can't provide.And here in Colorado, there's no such thing as a motel in the thick of the woods.

So far the condo investment has been pretty hands off as the HOA handles most things

I bought a 3 Bedroom SFH in Cahokia Heights, IL on April 2024 and it is STILL NOT RENTED TODAY.I bought for $79k convinced by the Section 8 mentor Tom Cruz to buy from his team and to focus on cashflow vs. appreciationI went through 3 contractors that all did a subpar job and just barely got it all togetherI haven't been able to find an appropriate Property Management team to help on this side of ILI have it listed for rent (Zillow, Turbotenant, Fb, Craigslist) for about 3-4 weeks now since repairs were done.If anyone has any suggestions to get this rented ASAP I would greatly appreciate it and any Property Management connections that can help would be amazing as well.Thank you all for your time and Happy Holidays & Happy New Year Ouch.