Purchase price: $285,000 Cash invested: $4,000 Purchased in 2021, rented out part time in 2022 and 2023—full time short term rental since 2024.

Looking to purchase a home property from a family friend to be turned into a long term rental property. 

If long-term rentals don’t cash flow, short-term or mid-term rentals (Airbnb, traveling nurses, corporate stays) might work better.

Even after one year, that property may provide thousands of dollars worth of appreciation, you will pay down your loan and build some equity, and you can depreciate the asset. 

Here are my recommendations for you.Since you and your husband own the duplex under an LLC, with one unit as a mid-term rental and the other as a long-term rental managed by a property manager, having the right insurance coverage is essential.Your property manager’s $100K liability requirement is low.

I have some homes in Ft Lauderdale and excel in the Short Term Rental space. 

My short-term goal is to secure my first single-family and rental property, while my long-term vision is to build a thriving real estate portfolio that generates wealth and financial freedom.I’m currently learning the ins and outs of financing, deal analysis, and market selection.

This bodes well for long-term equity growth.Rising Rents: The uptick in rental prices shows a strong demand for rental properties and could lead to better cash flow for investors.Economic Strength: Reading has a diverse economy, with key sectors like manufacturing, healthcare, and education providing stability.Rental Demand: Low vacancy rates signal that people are actively renting in the area, which is essential for scalability.Future Development: Any upcoming infrastructure projects or new businesses could further boost the market.With these positive trends, it seems like Reading could be a scalable rental market.

@Desiree Board For your mix of long-term rentals (LTRs), short-term rentals (STRs), and house flipping, an LLC is ideal for liability protection and pass-through taxation.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.