Just in my opinion, Im pretty sure there are successful out of state investors but i just dont recommend it being your first buy just thought id add that!

.❌ You’re unfamiliar with an analytical approach to design and assume insights like these are just opinions, not proven strategies.❌ You think using emojis means I copied this from somewhere—I’m just a millennial who likes to keep things engaging.BUUUT if you’re an investor who wants to attract high-paying guests, increase your nightly rate, and create a rental that markets itself, keep reading.A question I get A LOT is: “How can I market my vacation rental?” 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

There are thousands of people on here who will give their opinions about different parts of the process, don't be afraid to ask for help! 

Cats do more damage than dogs in my opinion.  2.

Price: $130,000 Building Type: DuplexRealtor opinion of Neighborhood grade: C+Property Description: Building breakdown1,440 sq ftUnit breakdownUpstairs unit is 1 bd 1 ba and is rented for $750Down stair unit is 2bd 1 ba currently rents for $750New electric, plumbing and roofRent Comps: $1,129 for upstairs unit and $1,074 for downstairs unitI used the current rents for the breakdown above, but seems like theres some more upside potential. 

There are also fees but they are extremely minimal in my opinion. 

So, it's still NOT a good idea to try to invest by zip codes - which are too big in our opinion/experience.

In my opinion, once you know the rates for a specific deal, the best practice is to underwrite base on the upper threshold of the range for similar deals to be conservative.

Feel free to drop me a note if you'd like an opinion on anything there. :-)