I create a comp set to dive into the competition and analyze how many other MTR homes there are, what cleaning fees are being assessed, booking lead time, # bedrooms and competition and if EV charge, Pet policy and Pools make a difference.JURNY for a PMS system & channel manager.

Rehab costs and  are key parts of evaluating deals, so it's great that you're diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor.

For the past year, listening to podcasts, doing research, and debating when the right time to start this journey, we have decided to get over the fears and just focus on the analysis and dive right in.

I also agree with @John Underwood that purchasing this with the intention/purpose of having a write off isn't a sound reason to purchase.Happy to have a call to dive a little deeper.

For example a property with a $100,000 door cost and very little capex is going to be a much better deal than a property across the street that is $80,000 per door but has significant deferred maintenance.So the analysis is preliminary and either can be used, but at end of the day you need to deep dive into the entire picture.

Brickell has that same kind of potential, but with even higher rent ceilings thanks to its location.A couple of things to keep in mind as you dive in:Financing: As a first-time buyer, you might qualify for low down payment programs.

Hey BP,I'm diving deeper into market research and looking to build a reliable process for identifying market metrics, data, and trends.

it is amazing that investor will do all this deep dive into a tenant that is going to pay 1000 a month. 

Starting with flips to gain contractor experience is a smart move before diving into development.

The other option would be diving deep with a bookkeeper to have them help run more updated books than just monthly.