Let me preface my story with my definition of freedom: doing what you enjoy for a living with the people you care about.My name is Peter Neill.

So now I have both my personal residence and a leased property as STRs.Even though I live 3 hours away from my leased STR property, I've built a team that assists with managing it, so I don't have to be there all the time.Here are some key things I've learned:Regulations: Research the specific STR regulations in the state and city where you're looking to buy.

We're not aware of anyone that's made a purchase from them work in over 3 years:(Most of the incentives in Detroit are targeted to owners that will live in their home or developers targeting large projects.

@Benjamin Goodman gives a good example referencing live in flips. 

Quote from @Laura Yelin: Hello BP'sI like Sherman...I lived there for about 3 years many years ago and still sell and rent there.It's a slow wealth building market in my opinion, not get rich quick.Mostly blue collar stable town.

You can also do a live in flip where you use the equity to sell and reinvest down the road.

Because they’re ideal for creating comfortable and functional shared living spaces.5.

This has been my experience and I live in an ultra-competitive market.

I too live in Asheville, so Sapphire was closer than Cashiers and Highlands.

What adds complexity to our plan, is that we live in Minnesota.