Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success!

It’s a 3-bedroom, 2-bathroom unit that I’ve been living in for the past two years.

Multi-family units and investing for equity are my focuses to start, unless anyone has any other suggestions?

Maybe they would/could take it upon themselves to pay for the repairs to the roof to salvage your unit and prevent further damage then they would go after the HOA to recoup costs.

As you know, I sold 3/4 of my portfolio (thousands of units) right before the market tanked in 2022 and I haven't bought anything in over 3 years. 

Exclude any units that are out of your league and focus on similar comps. 

What will the unit/units rent for and what do you think the property will be worth in 2 years?

This could be very difficult if you are going to self-manage, as you will be turning units every year and dealing with a lot of repairs.

I generally try not to sell my properties unless I have to sell in order to have enough proceeds to purchase a bigger and better property (and usually more units).

As a wholesaler, having the first look at a property is a cool perk of the skill set. checking to see if the numbers work comes first, but secondly if not first part A, how will the property be managedAnyone investing in multifamily out of state, what’s the difference between the different amount of units?