He's making more money with it than any of his other short-term rentals.The riches are in the niches.

It sounds like he loses (sells) the property now on his terms or loses it later on someone else's.

I have too many questions for one post, so keeping this post broad and will ask more specific questions in the coming weeks/months.I have a good 6-figure job and some limited real estate investing experience (own one short term rental in the Denver area and recently Airbnb'ed a second property under the rental arbitrage model). 

I stopped using carpets in my rentals a long time ago.

Louis may not experience rapid appreciation like some coastal cities, it has shown consistent and steady growth, which is favorable for long-term investments.Diversification: Investing in a different market can diversify your real estate portfolio, reducing risk.Considerations:Neighborhood Research: Research neighborhoods thoroughly.

I've learned to ignore some of the noise and many of the long time BP posters have helped me out tremendously.

They also have Project Loans which are good because as long as your project is less than 6 months, you can pay it back with very little out of pocket during the flip.

I don’t have any experience doing this personally, but I’m on Long Island and this is exactly what the couple who owns the property that my girl lives in does.They bought a home, lived in the home while they renovated it, added a basement unit and rented it out.

Even Hard Money lenders (with 10% to 12% interest rates might have issue with that) PROPOSAL MADE and SEEKING OTHERS:Have the Husband agree to SELL her his 50% interest in the House on TERMS to the WIFE who wants to STAY in the home and where he would carry back a WRAP AROUND  Note - lets say for $1,425,000 at 7.0% with I/O INTEREST ONLY repayment terms  of $8,312.50 monthly and a 36 Month Balloon payment when the entire $1,425,000 would be due.

AirDNA states: “Average yield is calculated by dividing the average annual revenue potential of short-term rentals in proximity to the national park by their average home prices obtained from Zillow.