Do you focus on local goodies, practical essentials, or a mix of both?

Curious why you want to focus on multi-state and not close to home?

As a CPA focusing on real estate taxation, I frequently encounter property investors excited about cost segregation studies.

Mine is a 2022 build  Hey Ryan, Your property checks alot of boxes for me for a MTR focused on attracting families as a whole home rental.Single story, Good school district, Little to no competition on Airbnb, No HOA.I bought a property once in 2015 and it barely cash flowed as a LTR but now 10 years later, I cash flow as a LTR about $600 per month. 

Quote from @Brendan Jones: When it's a home you intend to live in, I lean towards focusing on what you want, then making it work as best you can as a short-term rental.

I don't know specifically about ADUs and Chattanooga, but I have clients in other markets that focus on ADU construction on larger SFH lots.

Also keep in mind all those that equate this to buying a rental house are very focused on one thing and that is being a landlord and being landlord and buying rentals basically takes no special talent or knowledge other than basic math and ability to buy one.. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I've found that CPAs that focus on a niche area such as real estate rather than offering general services to everyone are typically much more knowledgeable about real estate tax incentives.