@Kyle Carter we manage around 700 doors, with 92 of them being S8.When S8 applicants are properly screened, they can statistically perform a decent amount better than cash-tenants.

We did a 100% gut/rehab on a 1950's house in 2018 and converted it to a duplex, turned out beautiful, salvaged the original wood floors in parts of the house, put good LVP in the rest, simple plastic mini blinds on every window.

I have worked my entire career in construction and last 2 years performing entitlements, permitting, and construction for industrial developments along the Wasatch.

We keep "kiddie" as we say backhome which is a pot of money set aside for rainy day fund in case we need to replace appliances, perform repairs or other capital improvements. 

You can determine what a decent salary would be for someone in your market and then reverse-engineer to see if what you're paying as a salary, plus the projected performance commission, will get you there.

Do you have a rent roll for at least the last 2 years, so you can see how it has performing?

If a seller listed a home for $100,000 but was willng to sell for $94,000 as that was likely the FMV, it would be the same to him if he accepted $100,000 with a 6% seller credit or $94,000.I looked at the zip codes of lower priced homes in Memphis, Cleveland and Indianapolis and they appeared to perform betterMemphis38105 - Prices were $35,700 in 2016 and now $116,000(220%)38106 - Prices were $21,600 in 2016 and now $60,900(180%)Cleveland44108 - Prices were $34,000 in 2016 and now $59,800(74%)44104 - Prices were $36,300 in 2016 and now $60,400(66%)Indianapolis46201 - Prices were $42,900 in 2016 and now $149,000(247%)46222 - Prices were $39,000 in 2016 and now $127,000(225%)I should mention that I don't invest in Memphis, Cleveland or Indianapolis.

While your properties hold significant equity, adding debt from HELOCs or a DSCR loan could strain your finances if STR performance fluctuates or costs rise.

Beautiful community with great amenities.

AND have provided the 150 hrs of material participation and not have had any other person perform longer work hours than you.