On a daily basis I get questions from investors/property owners about the rental rate for their rental property.

I would add that the problem extends beyond Class D properties.Twice I rented B class rentals to Section 8 residents. 

Hello everyone,I just closed on a house and am exploring the possibility of turning it into a mid-term rental.

My problem i is my market is super expensive if I stay in the nyc area and I don’t have the confidence since I don’t have any actual experience to invest out of state do you guys think paying off my mortgage would be more beneficial than looking for more rentals .

@Jose Saladin Purchasing your sister’s home as a live-in rental offers instant equity (~$170K), tax benefits, and landlord experience, making it a solid first step into real estate investing.

If you are looking to keep your townhouse as a rental and find another primary , if you have kids in school , I would recommend Severna Park , Arnold , then Pasadena . ( preferably a community with either a pool and or water access .Nothing in this county pencils out as a rental unless you look in Glen Burnie and North . 

For example college rentals generate some of the highest ROI of properties I come across in New Jersey but it depends on the school and location of property.

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.

For example, before he switches a policy from short term rental to long term rental he wants pictures.Is it normal?

I own one rental house in Cypress, but with the current market I have not been able to find another existing single family home to buy that looks like a good investment.