They will make or break how successful you are.Cheers!

@Lucas Schlund not seeing oversaturation in Metro Detroit, but there is some up in the Traverse City area - which implemented STR controls.Yes, it's always a good idea to buy an STR property that you can at least break-even if you have to turn into an LTR. 

South Florida is a competitive market, and you'll need to do your due diligence on zoning, parking requirements, and other restrictions.I also made a quick video breaking this down in case you’re interested in hearing more details.

My primary focus is on Wholesaling and Rehabbing in NJ and PA area.I’m eager to learn more about strategies, best practices, and the challenges of real estate investing, especially from those with experience or breaking into the market.

With all 3 mortgages in place it would have been a break even scenario.

Have sold several in the area breaking even turn key or 3-5% cash on cash return after renovation on first year.

Until you break that log jam the market is going to largely stay frozen.

A scope is especially important on properties where the sewer line would be particularly expensive to replace (for instance, if the sewer line replacement would require breaking up and re-pouring a driveway, or removing numerous mature trees--these things can cost significantly more money above and beyond the cost of replacing the sewer line). 

I know cash flow can be challenging in Texas but if you are anywhere near break even it's a win as long as you're in a good area because values are only doing one thing over time in that DFW metro.

You want to have long discussions about your goals, how to break a tie when you don't agree, and you should always have the exact same amount in the account.