Research local rental demand, especially from military and university tenants, and consider balancing your portfolio with single-family and multi-family homes.

Since you're in Destin, you might want to check with local firms that have experience with STR-heavy communities, as they’ll be familiar with the risks and requirements.

Yes, Mustafa Lakadawala from Clarke Realty (local to St.

But I would rather rent it out so it could be our first/foundational rental property and we can continue to grow our portfolio.We've been looking to rent for a while now but with the local rent pricing it is just as expensive/affordable to purchase your own condo than to rent.

I am not sure if I should stay local to my market.

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!

Find out what your local laws allow for.

6) Finding a lease that complies with all federal, state and local requirements7) Figuring out how to accept rental payments - most Class A tenants won't want to mail you a check.

I'm curious to dive deeper into the Santa Fe market and would love to learn from those with local experience.

I am on the board of CFRI, the local chapter of the National REIA.