The initial plan is a 1200 sf build out with plans to expand back away from the cliff later as finances and interest rates are more favorable.

He gives out a code at the end.

My first purchase was back in 2021 with a small little 8-unit Boutique Hotel in Florida.

Thanks for you feed back Chris.

It’s been a while, but I finally managed to get back into the BP forum—great to be here again!

You want to buy real estate with no savings, which even if you can scrape together a 10-20% down payment, means you will have no cushion to fall back on when the inevitable surprise expense happens. 

A report from Apartments.com shows that 178,000 newly constructed units entered the market in Q3, bringing the projected year-end total to 636,000 units.

I also tried to sell it back to CR of Maryland with no success. 

I did not know of this time log requirement for STRs, so as a newbie I am going back through emails, texts, phone logs, invoices, etc. to determine how much time I spent on everything.  

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.