They have a lawsuit pending in federal court with a document storage company as well who claims they are owed $40k plus.

Can I charge them fees & rent for storage of their crap? 

Over the years, I’ve witnessed both newbie and seasoned investors get misled by various players in the real estate game, from wholesalers to contractors, realtors, property managers.

It’s a short term rental started in Oct 2024 and earning during this off season is under $10K but cost segregation has nothing to do with rental income only depreciation of the property and with bonus depreciation being 60% this year I think it’s worth it.

If you're open to mid term renting (we transition to this during our slower season), I'd also recommend speaking with the university and trying to see if you could try to be the source for their mid term housing.

I’ve focused mainly on Florida but have also looked at options in Sacramento and other slightly more remote locations in CA.While I’m familiar with value-add strategies (ADUs, renovations or storage rentals), these seem like heavy lifts for modest gains.

For a more general philosophy on hospitality, especially if you are going into the higher end STR space I would recommend Four Seasons: The Story of a Business Philosophy by Isadore Sharp about the founding and development of the Four Seasons brand. 

Engaging with seasoned investors and participating in discussions will expand your knowledge quickly.

Hope everyone is having a wonderful holiday season!

Let's connect be great to have a seasoned agent up in Memphis!