Lenders that have flexibility to originate in multiple states and have a wide range of programs available provide more value. 

Hi Jessenia,I've been in the game for quite some time and have many battle scars to prove it lolMy best advice would be to always look at a worst case scenario and start from that.By starting with a worst case scenario you will be able to quicker eliminate markets that aren't a good fit.I don't know much about NY but personally, I wouldn't invest in any market that takes 6 months or even worse longer to evict.Worst case scenario for example = Tenant doesn't pay rent and trashes the property.I would want to be able to evict, fix and re-tenant as quickly as possible.Time is money and I want to keep moving forward and not deal with financial and emotional drag.There are many markets nation wide that are landlord friendly.My business is based on Ohio and there is no mercy for non payment of rent.Eviction usually takes 6 weeks max and although I never want to evict, being able to do so quickly minimizes risk of that investment.Thanks 

I am particularly interested in purchasing my first investment property as a short-term rental (STR).After analyzing recent data from AirDNA, I have identified several promising areas: Douglas, Saugatuck, Fennville, and I am also exploring opportunities around Stevensville and New Buffalo.I understand that regulations around STRs vary widely, and I've taken the time to study city maps to identify areas where they are still permitted.

That’s a wide generalization and I’ve seen people that make $200k or more a year be total jerks and trash units, but I kind of get what he’s saying.

The local angle can give you that edge against other buyers, especially when you are dealing with high equity owners who might be older and a little weary of some company coming in wanting to buy their house.One down side to consider is, hand writing all of your letters will be time consuming, but there are ways to get around that.

Would need dimensions and more angles for an input.

You have to be an expert at dialogues and the risks of subto are not widely known or are said to never happen (loans being recalled), but that's not what I would bet on.

The plan is to cut 4x8 boards by half and install them and use basic wood molding throughout the basement which is about 1000sq feet$4000 for drywall replacement, plaster of about 5-6 inches wide and moulding$2000 for paint if we want thatInsulation will be $800 extra if we want to do it - they plan to use fiberglass insulation and push them up all the way into the ceilingDoes this look reasonable, even for NYC?

My journey to get here was totally wide.

That is because the light hits the ceiling at a totally different angle than the ceiling.