So this requires some upfront planning. 

.📌 Key Takeaways:Out-of-state investing can work but requires a solid local team.Use online tools like BiggerPockets, Rentometer, and Roofstock for analysis.A HELOC can help, but be mindful of risks and repayment terms.

Additionally, FEMA updated the local flood maps here in July 2024 and much of the area now requires flood insurance. 

These tax deductions do not require you to become a real estate professional.

.👀 Risk ManagementBoth investments require risk management:Stocks: Company performance, market conditions, economic factorsReal estate: Property maintenance, tenant quality, local market changesBut guess what?

A STR is a completely different animal in my opinion, in that it requires more work and much more compromise, but financially is worth the effort. 

But, today, most judges are requiring a GAL anyway.

Capex-  make a list of all upgrades required.  

They require all cash to buy so the people there have money.

The interest rate is 7%, so we suggest this property is for someone who wants to get into Lease Options and meets the other requirements such as adequate reserves and credit.That means, they buy the property, they wind up with $50,000 in equity and they do a Lease Option to a buyer who doesn't currently own a house, but wants to.