However, the suitability of buying and renting out a single-family home in Richmond can depend on various factors, such as market trends, rental demand, and property values (similar case with all markets, really.)Chatting with a local agent in the area can provide very helpful insights into the market, data, and specific neighborhoods.

It is a HUGE bummer as an agent to write up an offer to go to a junk property (happened to me last week) to end up pulling out.

Since then, I've chosen the Couer d'Alene/Post Falls area and have already started working with an agent.

My current insurance agent only deal with residential insurance companies.

Connect with a lender/agent locally to get a feel for the area/what you can qualify.

Aligning yourself with a buyers agent who understands the STR market is absolutely critical. 

@Steve Meyers I’ve been running this with some success with a local cincinnati agent on 2+ units and nationally with a commercial broker for shopping centers.

@Sam McCormack is a great agent there that helps plenty of investors. 

Recently, our real estate agent did a market analysis and estimates we can sell for between $575K-$585K, resulting in a net gain after all of our fees of about $100K.

@Orlando Johnson- If you were going with 6% real estate agent fees the $12,500 number is incorrect.