However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

Like "renting to section 8 tenants is actually really easy", "your agent is not on your team just connect with people like me doing hundreds of deals every day and use my team instead", that hood properties will have "15-25% net caps" for beginner out of state investors when in reality they will definitely lose money every month due to the rent not being enough $ to maintain a rental property, never mind all the tenant issues involved with this property class or the difficulty of managing them remotely... but he's done thousands of them just this week while sitting on the beach in Florida... 

Actually sit down and evaluate deals in those markets to see if they line up to your desired metrics.

You sit down and weight the pros of cons in the end.

I wouldn't necessarily put a lot of efforts into improving/building/spending in hopes of staying booked solid, but it is a nice 'side hustle' for a pretty piece of land to bring in some extra income while it sits. 

@Kevin S. It

In our case, our lease specifies that if a tenant wants to break the lease early, they are required to pay three months’ rent as a penalty and forfeit their security deposit.This approach helps cover the costs of finding a new tenant and any potential loss of income while the property sits vacant.

And yes, biggest risk is letting it sit for 12 months.

Currently, the cabin is only used by our family about three weeks a year, and the rest of the time, it just sits unused.For context, the property is in my parents’ name, and they’ve owned it for over 15 years, since I was a kid.

Contact them and find out our sit back and wait to see what happens with it either way let us know…