How did you add value to the deal?

Quote from @Quan Dao: Hello Everyone, I am new to Short term Rentals.

I have not finished a book yet, so this may be somewhat jumping the gun.

Luckily both sites collect the taxes for our place.Our little town did implement a 1% tax that I have to pay separately.

Highlight nearby conveniences and any neighborhood growth to attract interest.Focus on framing the size as a bonus that buyers get more space and value for their money compared to smaller homes.

It's about finding a situation where you can force enough value to create a 20%+ equity position. 

@Nicole GrazianoI recommend that you have a consultation with a real estate tax accountant regarding your taxes.Bigger Pockets is a great place to find a real estate tax accountant. 

You should pay them an hourly rate for all of this.After all, there’s no guarantee that you will even end up buying a property or selecting them as your cohost.

@Saul Clavijo make sure you understand you will be getting into Class C properties at those numbers.Food for though below, DM us to chat more about Detroit:--------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

For new investors, the BiggerPockets Rookie podcast is helpful because everyone is pretty new who is being interviewed.