Running the numbers on paper is one thing, but actually securing bookings at your target rate is another.Sounds like you’ve got a good handle on your market and what your guests are looking for, which is key.

Cash for keys will be my first option.

Tenant shall be charged $[amount] to cover the cost of this force-placed insurance.The other lesson is that you should never hand over keys until you have proof the Tenant has met all requirements.

Hey Byoung,You’re thinking about the right things upfront, which is key for long-distance investing.

For the past 10 months, I’ve been doing a BRRRR house hack with my multifamily, running a mid-term rental on the second floor.I’m looking to scale up soon as I’m wrapping up the last few renovations in my unit and will be handing the keys to a lucky tenant (MTR or LTR).

The key challenge is finding a property that meets your needs today while also offering strong long-term potential, and I’d be happy to guide you in making the best possible investment.

When we moved, we turned it into a rental, hoping this would be the start of our real estate journey—something we’d like to continue once my husband retires.Some key details:My husband is active duty and will retire in 3 years.We have one final move coming up this summer to Raleigh, NC.Our current debts are crippling us—the high interest makes it tough to stay afloat every month.The plan I proposed to my husband:Sell the rental property.Use the proceeds to pay off all our debts, set aside emergency funds and a down payment for our next home.Free up $1,500/month from debt payments, and that also can stash in a high-yield savings account.Regain full VA loan entitlement, allowing us to purchase a multifamily home and use the house hacking strategy for up coming move.Avoid capital gains tax, since April marks five years of ownership, and the tenant’s lease ends in May.This wasn’t our original plan, and we hate the idea of using our equity to pay off debt.

There is many different ways, key is being consistent.

Your emphasis on proper property management is a key takeaway, and I’m committed to educating myself in areas like tenant screening, lease enforcement, and proactive problem-solving.

crazyDo these people just hand over the keys to their car also and hope it comes back ok?