It’s harder to BRRRR in the Tulsa area now due interest rates, you definitely have to buy at a great discount in order to be all in low enough toget all of your money out and the rents have to be high enough to still cash flow after all expenses (PITI, Mgmt, Vac’s, Rep/Maint, CapEx, HOAs, Util).Based on being “all in” $120K in order to BRRRR and still cash flow at least $300 mo:$120K cash out amount - at 7%/30 yr ($150K+ ARV)PI = $800 mo + Taxes $150 + Ins $150 = $1100mo PITIRENT would have to be at least $2000 mo- $1100 PITI- $200 mgmt (even if self mng, it’s exp for time)- $200 vacancies- $200 Rep/Maint & CapEx= $300 mo cash flow.

My friend has 3 rental properties there alone and when I asked him about buying more he said if he did buy it would be there.

@Shannon Leckinger what would be your goal with the STR that you want to buy? 

Investment Info:Single-family residence buy & hold investment.

"Do I need to buy it as a second home"?

I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

It doesn’t matter if you buy a new roof in year 5 or year 30, you depreciate it over 27.5 more years, not 27.5 since you purchased the property.

Airbnb is a company so the only way to buy one would be to own stock in the company. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Investment Info:Townhouse buy & hold investment in Baltimore.