When under contract at 300k with the expectation that codes would be the determining factor on what can be done on with the property, as it relates to new construction.

There are other ways to determine rental amounts like researching in zillow and/or rentometer, which I typically reference.

We often use zoom showings, but they build on that mutual in-person experience.We don't encourage bottom-of-the-barrel neighborhoods, simply because with 60-120 year old properties capex tends to exceeed cash flow over time aka money pit.

Example, buying a vacant lot from a neighbor and simply explaining that someone else will be on the contract in a few days is not easy.

And of course simply have it demo-ed.

If you decide to spend $8,400/year on this, how will you determine if you are getting a good ROI?  

(Hands-off or hands-on.)I like STRs as a way to make money while you wait for a property to gain value, but at least for us, cash flow is simply the icing.

It's simply overwhelmingly nuts. 

It's important to consult with an attorney or an accountant to determine whether an LLC is the right choice for your specific situation.You can reach out to me and my team who can guide you through the process and help you navigate any challenges that may arise.

With that being said, the interest rate is going to be the single biggest determining factor for whether you're barely breaking even, or seeing a decent monthly cash flow.