Our plan is to purchase again with a better mindset of turning that into a profitable rental.We have diligently completed all the necessary steps and are on the verge of signing a management agreement with a property manager.However, we are experiencing some doubts.  1.

I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

I plan to live in it and then rent it out in a year. 

I was planning on searching here today to see if I can find any meetups in our area.

@Jordan Kaylor   Would your plan be to buy properties that needed work to force appreciation? 

Hello,I’m looking for guidance on if a 1031 exchange is applicable in my situation.I currently own a single family rental property that I’m planning on selling.

The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default.  

Quote from @Michael Smythe: @Felicia Jenkins the shorter the term of the lease and the more tenants there are, the more challenges you'll face - especially if you plan to manage remotely.Who will be your boots on the ground, do showings, maintenance, etc.?

Jarrell is planning on a population surge of 50,000 new folks.

Thank you all who responded, I plan on spending some time driving the neighborhood and talking to anyone at the local coffee shop who will talk to me.