Because the lot is narrow and long (50' x 200'), the typical off-the-shelf plans won't work (we want to do custom anyway), so my partner and I have been discussing ideas and he's been putting some sketches on paper.Here is what we plan to start with when we find our architect (click to enlarge):We've been debating whether the second floor (the drawing on the left) should be the full size as the first floor, or whether we should gable the roof to limit the size (as in the drawing) to keep the square footage to our planned 2000 sf.Making the second floor the same size as the first will add some framing, sheetrock, paint and finishing cost, but will likely also add about 700 sf to the footprint.

I'm debating whether I should get out of the market that I know (which is oversaturated) and head to good ole Baltimore city for the cash flow potential.I'm in the DC metro area. 

Anyway, we are still debating and try to make a decision sooner.Thanks

We can debate why all day but the fact that these %'s are coming down as price points climb and climb and more technology and ibuyers come to market holds true.Commissions are negotiable along with just about everything else so it really comes down to what makes sense for both parties involved.

Hi Will,Speaking from a similar personal debate, one thought that has helped me is to consider your W-2 as a way to interact with different people about real estate.

Now that I read what you said, I do think it was a mistake but I can't afford the change now.On the property manager debate: I'm solid on the side of self-managing for now.

(hope you're Irish)You really need to get with a CPA and attorney about this...What you're doing is pretty complex, and I'm leaning towards you may have (either knowingly or unknowingly) created a partnership filing obligation (Form 1065) with foreign withholding exposure and all the fun that goes along with that because the Superannuation Fund is a member of the LLC.Then you have the Australian Superannuation itself which is a grey area itself and heavily debated in the tax community -- primarily about how and if it should be reported for a US citizen or US resident alien. 

I'm debating btw the two areas that you mention to jump into the STR game? 

It's debatable of whether CA is overpriced and you'll find people on both sides of this debate but the key differentiator is cost of living and wages. 

Account ClosedIf you search the forum archive you will find an almost religious debate on offering Internet to tenants.