Presently evaluating refinancing to take my downpayment money out of one property (at that point it feels like a "free" property) and balancing if I should focus on aggressively paying some properties off or keeping leverage... classic dilemma I guess.

Any help is appreciated as I'm trying to get a better grasp on evaluating short term rentals including the steps you go about to finding your target markets.

Hi BP Community,I'm in the process of evaluating a fix-and-flip opportunity for a single-family home (SFH) with the following details:Purchase Price: $1,000,000Renovation Costs: Approximately $400,000Estimated Timeline: 12-14 months from purchase to saleI'm trying to determine what would be considered "good enough" multiples and internal rate of return (IRR) for this type of project.

Welcome to BP - lots of great markets and submarkets in the general DFW area, even stretching now up to near Oklahoma in the north and down towards Waco/Temple South - lots to evaluate and choose from!

Another route would be a home equity loan, which functions like a second mortgage, providing you with a lump sum at a fixed rate and payments.Each option depends on your goals and the terms offered, so it's important to evaluate which fits your situation best.

This is something many hosts overlook when evaluating their options​Let me know if this helps clarify, or if you want to dive into other management solutions!

As far as evaluating.

Also, if I do, is there certain information that I should be gathering/evaluating, and certain questions that I should ask of the people working at the site to make the most of the visit?

When I evaluate a software, I first build a list of the most time consuming aspects of my existing work process.

When evaluating your investments, try to avoid these fallacies, as they can keep you sidetracked.