Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

We do a lot of the work ourselves and so within 2 hours of Needham is ideal. 

@Lauren Ruppert Yes, an LLC can sell a property to your child’s LLC, ideally at fair market value (FMV) to avoid gift tax complications.

I'm not factoring this in right now, going based on the numbers I see.Definitely able to put down additional funds to be creative with a lender, at the numbers you are thinking. 

Once you have those answers and find out how Airbnb would penalize canceled bookings...that alone is huge deciding factor for some old/new STR homeowners....you can move forward with the best answers that would help you meet your 12-month goals! 

.- Short-Term Rentals in Non-Traditional Markets: Secondary markets like Florence, Alabama, are ideal for short-term rentals.

Trying to stay as affordable as we can ideally. 

Ideally, this would be just one step in a larger plan to grow into multiple rental units over time.

Is that factored in?

@Kris Lou Many factors go into PMC pricing:1) Locality (city/state)2) Neighborhood & Property Class (time to manage Class A < Class B < Class C < Class D)3) Property condition (slumlord properties hard to manage)4) Number of units (some economies of scale, but not as much as owners think)5) Owner expectations (some owners really want a personal assistant!)