From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

Operating your rental like a business is mandatory to protect you, your ROI, and your property.Hope this helps...

@Jenny Yu sorry to hear about your experience, we own and operate 51 units we own and manage for other clients in Jacksonville and Orlando.

If you have four 2-bed/1-bath units with the same appliances, split it four ways and call it a day.

I've gotten good results from Ninja Skip Tracing and Skip Matrix for my cold calling operation.

Operating in the Luxury SpaceWe focus on properties in the $1.4 million to $1.9 million purchase price range, which allows us to sell finished projects in the $2.5 million to $3 million range.

Does the operational company already exist and have income history?

How do you plan to operate it?

You can build your own team i.e. title co, insurance, pm, contractors, handyman,process server, lender etc.... or you can find an operator who can get you going in that market while simultaneously building out your team.Section 8 housing is a great way to ensure consistency with rent payments however not all tenant who have HCV pay 0%.

I operate 14 properties from the same checking account.