Old post, but in the short-term the world changed with the recent passing of HR 5376.

After I fill the last vacancy, the building will generate as much cash flow in one month as its predecessor would have generated in a year.There are so many other stories whose origins are with that same knock on the door, but this one's already long enough.

Apply for a dimensional variance on the vacant lot to allow a smaller lot and/or setback so it can be built upon.Your best first steps are to sketch a plan, possibly with an engineer's help, then contact the zoning department to discuss your idea with them to get informal feedback on your liklihood of success before you spend a lot of money.

Four properties were existing STR's that had a permit 'transfer' and the other half were eligible properties that successfully launched with astounding success.

The pocket thing seems nice as long as you could control who moves in and who does not move in. 

@Joseph Kirton How much time do you feel is needed to be successful?

Looking forward to big things and more successful transactions!!!

I’m finding a hard time finding comps for a long term rental.

When cycle gets tougher then those marginal agents sales dry up and they go back to that j-o-b especially since they did not save and spent all their money on trips, bigger houses, nicer cars,etc.Good LuckI hope you are one of the few that make it long term. 14 years in the business and still having record sales year after year.The best nugget of info I can give is constantly out learn your competition.

Even at $2200 I don't expect to get a positive cash flow for the first year, but that's okay as long as I rent it out and learn from my mistakes for my next investments.