People weren't renting properties as quickly, and there was an increase in vacancy.

We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

Part of that is adding additional cost for increase in building products. 

This is an okay fix for now, next step I am looking at checkbook control to increase flexibility. 

I think it is great you obtained those lots at that excellent price and want to increase the value. 

Hi @Brendan Jones I moved to Nashville in late 2021 to begin my homeownership and investing career, buying a primary residence, house-hacking it, and transitioning to a long-term rental once I bought my next property (also in Nashville) so would be happy to share my experiences.There is a lot of interest in STRs in the Nashville Metro area, but the zoning has become increasingly strict over the years.

The shorter the prepayment term has an impact on increasing the rate.4.

Upon BP member recommendations, my husband got his real estate license which now helps increase our access and decrease our transaction costs.

(make sure you are budgeting for maintenance and management if you plan to use it) Rent will increase over time and your property will continue to appreciate in value. 

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.