Those figures are based on market data and info I received from a property manager who toured the property.

New to managing our STR that is 1/2 block from the beach. 

I do manage some multi families where the owner manages some LTR units and we manage the STR, so that is definitely possible and not unusual at all, it is a hedge as they are different market segments.

We just finished a renovation project that we started in our name and put into an LLC half way through. 

I was just speaking with a property management company and he isn't having any trouble renting his units. 

They instead focus on fully gutting their projects and install entirely new kitchens, bathrooms, fireplaces, accent walls, etc. and any exterior or mechanical upgrades necessary.While I understand this whole hog strategy, part of me says this will end up increasing the value of a home so far beyond other homes in the surrounding area that it wouldn't sell for what it's likely worth.

I currently own 10 units around Louisiana. 6 of the units are self managed and 4 are managed by a property management company but we actively manage the property manager.

As far as what I learned, I prefer STR’s and managing it myself vs a PM.

Here's a very small pros and cons list I've made for the area:Pros:Potential for Appreciation: Rapid growth and development can lead to property value increases.Stable Rental Demand: Proximity to Raleigh and economic opportunities ensure a steady stream of potential renters.Desirable Location: Good schools, amenities, and quality of life attract families and professionals.Cons:Market Competition: Increased demand can lead to higher property prices and competition among buyers.Out-of-State Management: Managing a property remotely can be challenging without a trustworthy local team.Economic Dependence: The area’s growth is closely tied to the economic health of Raleigh and the Research Triangle.

Manage the Property: If renting, manage it effectively and maintain communication with the seller.Advice and Tips:- Educate Yourself: Understand legal and financial implications.- Build Trust: Establish rapport with the seller for ongoing communication.- Be Clear: Define all terms clearly in the agreement.Mistakes to Avoid:- Incomplete Due Diligence: Conduct thorough inspections and financial analysis.- Unclear Documentation: Ensure agreements are well-drafted to prevent misunderstandings.- Market Trends: Consider future market impacts on property value and income potential.