@Michael Rostwhenever anyone says 'great cash flow,' I don't even need to know what state or city it's in - if it's a long term rental with conventional financing at today's interest rates, it's not happening unless unrealistic assumptions are being made like zero repairs, zero capex, zero vacancy ever, zero turnover ever, and 8% rent growth forever.post the numbers here if you want a review.

Research the local economy, crime rate, property inspection, market rents, vacancy rates, and consider financing options, tenant screening, and zoning laws.Good luck!

There are pros and cons to long term and short term from a rental management side, and purchase/acquisition.Long term = lower vacancy, lower expenses, potentially lower revenueShort Term = higher vacancy, higher expenses, potential for higher revenue, financing is more expensive than long term rentalsWatch out for local STR regulations, they vary from city to city.

CoC will be down to about 8.1% with 10% vacancy/repairs assumed. 

No vacancy since 2018.

I think tracking turn costs, vacancy rates, insurance costs, etc. in connection with a lot of this data could all be helpful iterations.

There is little excuse for a vacancy.2.

It can be exhausting trying to keep up with all the changes in local ordinances, section 8 (if you employ this strategy) or things that need to happen quickly (code enforcement / vacancies).  

Every vacancy should be a minimum of one week (if your previous tenants allow you to show it before) to thirty days (if you can't show it until they are out).

I'm currently in the process of closing my first primary residence deal in NYC, and I would like to ask for a piece of advice to the community.The current tenant of the Seller failed to move out by the closing date and the Seller decided to take a legal vacating process.Background- The current tenant of the Seller failed to move out by the closing date and I heard the tenant is avoiding direct communications with the Seller- Not sure from my end if the tenant is willing to moving out but struggling, or maliciously squatting- I have a vacancy contingency in the contract, thus I can back out at my discretion due to this issue, but currently there is no other properties that I want to move on to due to the market condition- The Seller is trying to take a legal action but it will at least take 3 months or longer, no promise to succeedAdvice to ask- My attorney could not negotiate to ask for a penalty for this delay because the penalty for delay was not included in the contract.