Ive had my license for 6 months now an i just wanted to know how to navigate a market like this with very high prices.

Here are some practical strategies to help you navigate the process.Start by understanding the local real estate market.

I am experienced in the real estate processes and could navigate everything fine.

I have absolutely no idea how to navigate this situation.

I would check into a few things to see what your best approach is.1) Find a great investor-friendly real estate agent (specifically one that knows STRs) to help navigate an area you may be looking in.

Hi Keri,I've navigated this several times over my 20 years in the field, both for myself and for clients.

Easier to navigate with a tablet or a computer.

This said, there are good people too that understand the challenges of the process and help investors navigate these waters.

Navigating the zoning requirements, dealing with Maryland Historical Trust limitations on what can and can’t be done to the property, and the financial burden of renovating the property to meet these standards have left us trying to figure out the best strategy so the property doesn’t just sit unused.If we decide to sell, we anticipate pricing it at around $70-$80 per square foot, which is an incredible deal for a property of this nature.We’re reaching out to see if anyone here might know of potential buyers interested in this unique opportunity.

Given the complexity and potential tax-saving opportunities in real estate, it's wise to consider hiring a CPA with expertise in this field.Many clients who work with non-specialists find that their non-real estate preparers lack the specific knowledge to help them minimize taxes through strategies like depreciation, the de minimis safe harbor, partial asset dispositions, 1031 exchanges, navigating real estate professional status, the short-term rental loophole, and more.If you are looking to qualify as a real estate professional, use the short-term rental strategy, or complete a 1031 exchange, I would without a doubt recommend working with a real estate CPA.