@Chris Mahoo Even without qualifying for Real Estate Professional Status (REPS), long-term rentals offer key benefits like depreciation deductions over 27.5 years, deductible expenses (e.g., mortgage interest, repairs), and up to $25,000 in passive loss deductions if your MAGI is under $150K.

Until the rates come down to refinance, the key for us is to limit the amount of turnover at the properties. 5K to 10K in rehab basically eats away at several years of cashflow.

The key thing to remember about STR in Cashiers is that our "season" is really only about 12-16 weeks.

Transparency is key- detailed budgets, timelines, and exit strategies will set you apart.That said, moving to a new home mid-project could add a lot of stress.

The trend is your friend.

Hey @Thanh Lu, so if you only have a couple of units, then self management isn't that hard.The key to doing it right is setting it up properly and keeping up on maintenance.I can count the number of late night calls from guests on one hand.

If that's the case look into finding a handyman, and make sure to shop around for the best price.Stuff I have ran into:lost keys/lockpicking [hired]broken washer [fixed myself]shower door [fixed myself]AC clogged [hired]Microwave broken [replaced myself]holes in the wall [fixed myself] Thank you!

Months' supply, a key market balance indicator, is expected to improve from a 3.7 month average in 2024 to 4.1 months in 2025.

Since you're not rushing for a quick flip, you can focus on quality construction, tenant-friendly designs, and strong rental markets that yield solid cash flow and appreciation over time.A few things to consider: Location is key.

I currently work with investors to build their portfolios with Turn-key long-term rentals, making it hands-free for the investors.