My goal is to bring in 16k per month with my buy-and-hold properties.

Their goal was to fill every need the renter had so they could focus solely on working.

Goal (in order of priority): 1) Convert upstairs of detached storage unit in back into 3 bed/2bath (for the downstairs, keep as garage on one side and rec room on other side), 2) convert detached garage in front into 1 bed/1bath for our grandma, and 3) eventually add a prefab home on the lot.From our research so far, I believe we'll have to do an SB 9 lot split in order to legally build all structures (but we're not sure if we want to do this now, or just convert the back unit into an ADU first then do SB 9 later).

DSCR loans are based off of down payment, credit score and either actual or market rents so it helps to supercharge an investor's real estate goals and net worth.

Single families are much less common, it's mostly multifamilies.

@Makenna Ryan What you're talking about is fairly common, "Land Banking" it the term I use most.

The Tampa Bay market is more of an appreciation play than a cash flow, so I don't really know your ultimate goals with this rental.By the way, I saw that you are here in Sarasota.

So ultimately, its about goals - what are you looking to accomplish, and resources - it takes more money to set up and run an STR vs LTR.  

.• 3-year business plan goals achieved in under 12 months• Listed for sale at 2026 projected price of $1.875M• Accepted $1.825M cash offer from 1031 exchange buyer• Closed sale in Oct. 2023 to secure long-term capital gains• New Sales Record Set: $228K per unit sale price, the highest ever in Bridgeport CThttps://westfaironline.com/real-estate/bridgeport-mixed-use-property-breaks-record-for-price-per-unit-sale/ Lessons learned?

I've read up on the benefits and drawbacks of real estate investing and have decided to take the leap forward towards that goal.