Income approach Also known as the rental income approach, this method estimates the market value by analyzing the property's anticipated future income and converting it to a present value estimate.

Like out West here my Wife hangs her license with a flat fee Broker who only charges something like 200.00 a month so she pays it annually and there is NO split with the Broker and something like a 100.00 transaction fee.

.🔹 How It Works:If your rental income falls short of covering your mortgage (PITI), you can use liquid assets to supplement your income.

I definitely think in my area, many of the good opportunities I could qualify for with my income would have pretty high rehab needs before they're rentable, so it's good to hear where you would start out instead.

Each night of the week has a different price based on market trends for short term stays, not annual leases. 

My primary goal for investing in real estate to grow my wealth and generate a bit extra income- not replace my day job.As the first investment, I want a safe investment with a goal recycle my down payment for a second property within 12 months and focus on learning & long-term cashflow/appreciation.

Hello Satish- the greater Banner Elk area does have a lot going for it and the right property should provide you excellent income and a potential nice getaway spot. 

From a tax perspective, the LLC will be a pass-through entity (if a single-member LLC, it remains disregarded for tax purposes), meaning you can still report income on your personal return (Schedule E).

If you can cover your mortgage with rental income, it may be worth keeping it as it may appreciate over time. 

The rental income from the first home will pay for the mortgage/monthly costs.