Purchase price: $270,000 Cash invested: $54,000 A multi-family upper/lower duplex in Ankeny found off-market during COVID.

I am looking into my STR options but from what I have learned this is a overflowing market in the area and the vacancy's are increasing so I may look into mid term and long term only.

If you are doing unpermitted work, it’s either too small a project or you probably don’t want to spend the money.So the market for such inspectors is probably small. 

The only two ways to rectify this are (1) purchase the property far below market price or (2) significantly increase the property net income usually through some method of “repositioning”. 

@Shane Regnier I've flipped a bunch of houses in Ocala but have yet to dabble in the rental market. 

Those that own it can be harder to sell as the cash flow from the business will cover the debt service for the business, but not for the real estate.Example: I had a very high-end assisted living facility on the market. 

Do you know the markets you threw out really well? 

I don't know how much you have but a build to rent triplex all in our market is 150k liquid normally with full return of capital in 9 months.

The simplest way is to base it on the market temperature of whatever city you’re researching.

You should be able to use departing residence income from the market rent when qualifying for a new primary purchase.