It's hard to trust someone miles and miles away to treat your money as if it was their own.

@Brandon Miles for cosmetic flips, we use $85/sqft; For full gut to spanking new, we use $120/sqft for rehab budget.All the best!

Students move out every year so you are guaranteed 30days of vacancy and if you have property management thats another half months rent for placing tenants so I'd go family all the way but students you probably can kick up the rent if its a prime location because you are charging by the room.

They charge a full month's lease for any new lease and half a month for a lease renewal.

I do it easily from 1000 miles away.Of course, there's the Great Smokey Mountains, a long time STR area with many managers but so many self-managers here too.It's just a matter of time before @Lucas Carl replies to you:)

I went to school 70 miles west of Richmond and have a number of friends currently there.

I have bought a half a dozen properties from wholesalers.

I did for my first 2 rentals 1100 miles away.

That is just HALF a grand off.. so how about 5 grand?

(e.g. all cash, quick close, 20% down, no inspection, etc.)Then when they counter with a higher price, I raise my price to meet them half way, but I change the terms so they are more favorable to what I want.