I’d love to hear more about how you approach finding these under-$2M properties and what strategies you’re implementing for operations optimization.

@Jenny Yu sorry to hear about your experience, we own and operate 51 units we own and manage for other clients in Jacksonville and Orlando.

They perhaps can build cheaper than you can, finance cheaper, operate cheaper and to get it leased up, offer things like 1-2-3 months free rent. 

This is the kind of thing the bank you keep all your operating funds in should be happy to help you with. 

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.

Even really skilled operators are left with no back up plan because they can't pivot to LTR in that market, can´t fetch the price they paid because the STR has lost some steam and was bought using nightly rate numbers etc.

, and I want my operating cost to be less than 50% of the rental income. 

They don't buy it and operate it.

It's not easy, but all successful agents operate like a business with daily tasks to attract leads and follow through on those leads.

In my opinion, even if you partner with a local PM company or turnkey operator your returns will drop significantly.