Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental? 

Cash invested: $40,000 Sale price: $205,000 Strategic Market Pivot: From Long-Term Rental to High-Yield Fix and FlipThis property was strategically transitioned from a single-family long-term rental (LTR) into a fix-and-flip project after analyzing market trends and identifying a pivot that would yield better long-term returns.

My focus has been taking abandoned properties and renovating to rentals, both short and long term.

Initially, the properties that I buy in another market don't have to cash flow a lot, my metric is $150, as I'm focused on the long term gain when they're paid off  and I have a W2 and am also a realtor.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000

I am the managing and credit partner on this investment. We have had the same tenant in this property since we...

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.

And even then, the life cycle is generally pretty long from first contact to closing.  

If the market is tough, I reduce the rent rate over the full 12-month term.

One thing though is that there are requirements coming into effect soon where wholesalers will need to get their license in PA for any properties that they wholesale, so you might want to look into that before it becomes official!  

I can put a wood panels but I don't 'know how long that would last.