@Lena CastellanoTo prepare for your first real estate purchase next year, explore house hacking options, research rental regulations, network with contractors and investors, practice deal analysis, join local REI groups, and connect with agents.

There are numerous ways it could go awry.

There are pros and cons to long term and short term from a rental management side, and purchase/acquisition.Long term = lower vacancy, lower expenses, potentially lower revenueShort Term = higher vacancy, higher expenses, potential for higher revenue, financing is more expensive than long term rentalsWatch out for local STR regulations, they vary from city to city.

And do not go into over-saturated, over-regulated areas....do your homework big time...

Many women are petitioning against the year limit since 20k for 12 months is really not a lot of time; I've received numerous emails about it. 

The IRS and underlying regulations require that you actually perform services to count toward these hours.Have a great Sunday! 

This may be easier to find in smaller towns or rural areas.Growth potential: Research areas with growing populations or emerging business districts.Tax incentives: Some localities offer incentives for small businesses or specific industries.Infrastructure: Ensure reliable internet and necessary utilities for your business.Potential locations to explore:Atlanta suburbs: Consider areas like Decatur, Marietta, or Lawrenceville for a balance of affordability and proximity to the city.South Carolina: Look into growing areas like Greenville, Rock Hill, or smaller towns in the Upstate region.North Carolina: The Research Triangle area (Raleigh-Durham-Chapel Hill) offers opportunities, as do smaller cities like Asheville or Wilmington.Remember to thoroughly research local building codes, zoning laws, and business regulations in any area you're considering.

Holding the lease unenforceable by the landlord not only advances the intent underlying § ATCP 134.08(3), but prevents the objectives of the regulation from being wholly undermined.

They can handle bookings, cleanings, and guest communication, so you’re not always on call.Also, keep in mind that some areas have specific rules and regulations for short-term rentals, so make sure you understand what’s allowed in any location you're considering.It’s great that you’re eager to learn, and with the right strategy, STRs can definitely help you gain more freedom.

For instance, posting a home could potentially violate various laws that listing agents are trained to navigate, such as Fair Housing regulations and the recent NAR settlement.I’d recommend establishing a solid relationship with a listing agent.