I am excited to get started investing in real estate in out of state Long Term Rentals.Outside of real estate, I enjoy spending time with my kids, as well as mountain biking and other outdoor adventure activities.Excited to learn and connect with you all!

This tied up the property in a legal battle between the seller, buyer, and lender for a long time and cost the seller $200-$250K in damages.

Purchase price: $68,000 Cash invested: $70,000 Sale price: $195,000 I purchased a long-term rental property from the MLS that had multiple contractor issues and significant delays.

I have owned it for a very long time and had depreciated most of the original purchase price. 

Southwestern Michigan offers plenty of charm and is a destination place but would definitely make sure your ROI makes sense based on your long- and short-term goals with the property.

Hey @Justin Brown, what @John Underwood said is spot on.SLC has been restricting STRs for a long while now and it isn't going to get better.People who have STRs in areas where they are not allowed are breaking the law and will eventually pay the price.Having said that, you should check and see if there are certain areas where it is allowed in some way and that is why they exist there.

When reaching out, it helps to offer value in return—think about tasks like checking on properties when they can't, delivering materials, finding reliable contractors, or even handling basic project management tasks.Building genuine relationships and showing you're willing to contribute will go a long way in earning their trust and gaining hands-on experience.

If your client W-2 job is in the real estate industry then cost seg. may benefit him even if he owns mid or long term rental properties.

Some people love that as the initial numbers look good, but probably over the long term they get tired of the common issues landlords face.It's not that hard typically to find a move in ready property, or even to find one that needs minor repairs, where you can capture the equity yourself vs the person selling it to you. 

I'd sell because you are reaching the time when you lose the cap gains exemption and that $24K would take over 2 years of renting to get back.I had a condo that I owned for a long time and I sold it despite it being paid off and having long term tenants.