Metro, and the expected spike in rent growth in the D.C. metro over the next few yearsSummary:After analyzing the data outlined below, I believe that investing in a value-add, multifamily property today has very strong potential for success.

With the use of VRBO, Booking.com and direct bookings can all raise your chances of staying booked and being successful.  

Glad you have had success and continue to do well with your portfolio@Chris Lin  Sorry to hear about your place, hoping you get resolution to your issues.

I’ve worked with several first-time investors, including out-of-state buyers like yourself, and it’s 100% possible to build a successful short-term rental (STR) business even when you’re managing remotely.

Building a strong team is essential for success, and we’re here to help.

Wishing you much success,Melissa, Investment Strategist at Rent to Retirement

Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.

They're expensive, but I know several people who have gone thru each program and become what I think are successful investors, moreso than other programs. 

@Jordan Meltzer congrats on the mid term biz and your success. 

One question for the community is: What are the next best steps I should take to further educate myself and get started in this industry to set myself up for future success?