A tenant complaining online might indicate that the property manager handled them appropriately, so be sure to ask the manager for their side of the story.7.

For the personal side of things, I do a GoBundance Onesheet, which breaks my life up into Financial, Health, Relationships, Friends, Adventure, and Spiritual/Contribution.Happy to share either document with you if that would help Tonio!

We were not texting you blindly.

You need the right solution for your day to day operations.Your need is to make the management side easy, so that you can analysis your accounting, business and management all with only one entry.

If it's on the higher side you may want to consider it for mid-term or long term rental, but if most stays are below 30 it can be viable for short-term! 

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

What about on the rental side?

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

So the choice of tenant would be key.On the flip side, reasons to hold: a very low mortgage rate; probably not the case. 

With the right renovations, we saw it as an ideal project to maximize returns in a growing market, especially with our experienced partner, Seth Choate, by our side.