Here in SD it's all about the ocean, mountains or both! 

My SD is in the rental bank account as well. not worried about not having enough money to fund expenses on the rental

Let me know if you want to connect I am both an Agent and an Investor in the SD area. 

Charge Rent - $1,699.00 $434.75 2/26/2020 ACH ORAM-2910BROUGHAM- JEA Bill Utilities-12/30/19 - 01/21/20 ($46.10) ($1,264.25) 2/18/2020 ORAM-2910BROUGHAM-2910BROUGHAM Simonds - Amerson-Ballard - Firi - Trombley Charge Turn Over Expense - $1,650.00 ($1,218.15) 2/18/2020 SD Forfeit ORAM-2910BROUGHAM-2910BROUGHAM JWB Property Management Check Bank Transfer - Security Deposit transfer for ($1,650.00) ($2,868.15) 2/18/2020 SD Forfeit ORAM-2910BROUGHAM-2910BROUGHAM JWB Property Management Check Bank Transfer - Security Deposit transfer for $1,650.00 ($4,518.15) 2/18/2020 ACH ORAM-2910BROUGHAM- JWB Construction Group LLC Bill Turn Over Expense- ($3,268.15) ($2,868.15) 1/25/2020 ORAM-- Craig Oram Nacha Export Owner Draw - ($270.00) $400.00 1/25/2020 Check 1.26.20ALL ORAM-2910BROUGHAM- JWB Property Mgmt Bill Management Fees- ($30.00) $670.00 1/1/2020 BT4G891LLA4 ORAM-2910BROUGHAM-2910BROUGHAM tenant Charge Rent - $300.00 $700.00

@Renee R.I know a few property managers here in SD that I can recommend.

So it takes comprehensive knowledge of the market trends, zoning laws, the local municipalities approval process, survey cost, subsoil conditions, irrigation requirements, development cost, utilities (gas, power and internet), city water or well water, city sewer or POSW to name just a few...A builder developed the farm field next to our SD, bought it for $1.5M and wanted to build 25 homes as a conservancy subdivision.

They'll likely have follow up questions about who handles maintenance, larger SD, etc... so be prepared to quickly answer these.Value to mention:- Professionally cleaned property after each stay and exterior upkeep- Staged photos that you can share with the owner for marketing purposes- Capex coverage up to $XX,000 (might need to include in SD)- Extra $XXX per month (likely may need to pay a little extra in rent to make it worthwhile, otherwise they can collect the same amount as LTR)Also, google "Airbnb apartments" or check their website. 

If you want less competition you will need to get property that is more distressed (and you will still have to pay up over the flippers who want those), or you will need to search when no one else is searching.....ie both of my SD properties were purchased between Thanksgiving and Christmas (when everyone else is celebrating you need to put in offers).   

Purchase price: $180,000 Sale price: $209,900 Contributors: Peter Vekselman Partner Driven and Traci Stephens purchased this Watertown, SD property on 12/06/2024 for $180,000 and sold it the same day for $209,900.

I took my 401 K and put it into a SD IRA because of that guy.