I'm putting a business plan together for a short term rental and I can find plenty of data from comps on projected vacancy rates of established rentals, however, I know I can't expect to come out of the gate with 50-60% occupancy.

Purchase price: $270,000 Cash invested: $65,000I bought a new construction duplex in a gated community in SW Florida.

Outlining your SOW with timeframes right out of the gate is imperative or deadlines will be missed yet contractors still want to be paid yesterday!

@Tim Schroeder and @Julie Gates Thanks !

Pex Piping , no slider or door for rear access from inside the house (have to add a side gate entrance to the rear) No garage, No Dining room. this is a 3/2 1100 per side 2023 build Duplex on 0.3acres inside a neighborhood. what do you think about that?

If you’re not prepared to go into a property and make the hard decision not to lose money right out of the gate when you need to raise rents by approximately $1000 per unit per month, that’s going to cost you almost $24,000 the first year which is more than enough to make the sewer repair and by the end of the second year probably pay for the roof as well.

If the property has recently been renovated I would definitely buy occupied because it reduces your risk and increases your cash flow right out of the gate.

It includes a tankless water heater, whole-house fan This gated community includes a dedicated dog park, a recreational area with playground equipment, and a wonderful covered picnic area with serene mountain vistas.

I do a pretty thorough rehab upfront on basically everything, so I don't have major capex right out of the gate.

Quote from @Pamela Gates: Hello-I am considering purchasing a resort condo to use as a rental real estate investment.