He told me he owned a few mobile home parks in town (they were large and had high lot fees) and this is what sparked my curiosity.

I am in Florida and we have a strong STR market and most of my buyers bought at high rates and using AirDNA we were pretty spot on for the numbers and we were successful in being profitable.  

🚫 “This seems priced too high.

I am the Vice President of OmniKey Realty, and I would highly recommend scheduling a tour with my investment team if you haven't already done so.

With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

I feel as though my home is priced too high, however, my property manager insists the price is competitive.  

., Richmond, and Detroit led rent increases, while Austin and Raleigh saw year-over-year declines due to high supply.

There are two types of return from a rental propertyCash Flow & Appreciation.I normally also aim for a minimum of 8% return between Cash-Flow and Appreciation.Appreication, nationally, is around 2% to 3% annually.Therefore, your goal is to get the cash-flow to be about 5% to 6%.The issue is interest rates being very high, you would therefore, need to buy at a pricepoint where the numbers still make sense.You can always put down more of a downpayment to cash flow, but that will impact your cash on cash return calculations.Best of luck!

It is a new construction where they will not reduce the price in lieu of broker commission to keep their comps high.