@Steven NguyenThe BRRR method is a solid strategy, but careful planning is key.

Compare to CA: I was just in a cabin construction yesterday doing a walk through video- priced at $717k, 3/2, that will come with 'luxury finishes'/fully furnished/turn-key when it's completed at the end of March. 

Ownership of the fence remains the key driver.

This is key to being successful.

Hey @Thanh Lu, so if you only have a couple of units, then self management isn't that hard.The key to doing it right is setting it up properly and keeping up on maintenance.I can count the number of late night calls from guests on one hand.

They call the person that brings the schedule of real estate, net worth and liquidity to the deal the sponsor or key principle.   

The key is to offer something different to the other homes, and be an attentive host, to get good reviews to boost OTA (Airbnb/vrbo) rankings. 

Here are the key numbers:Potential purchase price: Mid-$400k rangeAppraised value: Estimated at ~$500kRehabbed comparable properties (comps): ~$580-600kMonthly PITI (with 5% down, including mortgage insurance): ~$3400First-year PITI (with 2-1 buydown): ~$2900Monthly income (after taxes): ~4-5kLiving expenses (utilities, groceries, etc.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.

The first hurdle was convincing them to leave via cash for keys.

I added value to the property by focusing on key renovations that aligned with the tastes of Hamptons buyers.