M2 has not come down much since it's post-COVID peak and national debt as a percentage of GDP is at a record high.

If you can strike a balance with mid-term stays, try setting clear end dates to avoid cutting into your peak-season potential.

For some broader context, here’s a chart of the median sales price of a single-family home in Austin over the past 10 years:Compared to the recent price peak in May 2022, single-family home prices in Austin are down approximately 18%.

Dec/Jan are peak STR months. 

G'Day Luka,I'm not a fan of out of state BRRRR.It's hard enough for us on the ground to get rehabs done on time and on budget and I don't even want to think how difficult, expensive and time consuming it would be for out of state investors.And then include a high LTV and that can be a portfolio killer IMO.Hat's off to you mate for grabbing the bull and jumping in.You live, you make mistakes, you learn and you grow.Such is life.Building a large portfolio is an absolute must when investing in sub $100,000 properties in Ohio.I "killed" my business by not wanting to sell to investors that are using leverage.Our sales volume could increase by 70-80% but it is what it is.I just don't believe in it or want the hassle associated with it lolReason is mostly two fold:1) Not in the mood to deal with lenders for 2 months and hope the deal will go through.2) I don't believe that investors should use high LTV when building the foundation of their portfolio.My advice to you:1) Pay them off as quickly as you can.2) Build a larger portfolio.The investors that $#@% the most on my name are the ones that buy 1 or 2 properties and expect miracles.As you said, 1 furnace goes out or a sewer line needs repaired and bye bye cashflow for 2 years.We get blamed although we can't predict to fix certain things and there are just many unknowns with all investments.Our happiest investors are the ones that own 6-7 or even 10+ properties and all with cash and no leverage.They aren't worried about turns or tenant issues that occur on 1 or 2 properties as it's just the nature of the beast.Returns vary but across the board over the last 10 years I have seen 6-10% net ROI's year after year.Building a large portfolio is a must to minimize risk and to get the best possible long term ROI.Thanks 

I bought my first property in North Jersey at the peak of the 2006 market - came to the closing with no money and walked away with $10,000, still own the home to this day - and it's still possible do near this today - so, it can be done with $50K or less (doesn't mean you should do it that way...) 

Quote from @Chris Watkins: Quote from @Chris Watkins: Quote from @Eric Lee: Hi all,I'm looking to acquire my first rental property and am strongly leaning towards a short-term rental while doing a MTR for off-peak seasons.

Say good bye to the negative connotations of wholesaling, hello to cross selling. 

My curiosity is peaked to know what is the holdback.Roger

That's obviously a relative term but 2023 pricing was already down 20-30% from peak.