In either location, if you are not boots on the ground, you absolutely need a realtor who has STR experience and ideally properties themselves.

Since you meet the material participation requirements, you can use this to offset your W2 income in 2023, which is ideal given your high income this year.

I have been working with CMHA for 10 years, 100s of move in and outs ,I deal with them weekly, so I am not speculating, 

Out-of-state is more ideal once you have gained experience.

You could get pre-approved from a rocket mortgage online to give you an idea so when you connect with an agent in that market you can let them know ideally what price you would be looking in.

Hi all, new here at the forum and thank you all for all the knowledge you guys share…its amazing.I am interested in this question as well as we just got back into this from like 10 years ago, few things have changed for us, and the main one is finding deals with whole sellers, sometimes the price looks good, but once we add numbers we are currently seeing that everyone else in the deal makes tons of more money than us….for instance, we have checked properties now, where we pay closing cost, interest on a portion of the borrowed money, commissions after selling the property, etc and we see 30-40k going out on all of this,  then we barely make a 20k profit or less on a property of 200k …many of the deal we found we barely get close to a 10-15% of the initial purchased price, which to me sounds like a lot of hassle and my wife says that i am getting old and too picky :)i keep saying that ideally we should shoot for 15-25% profit from the purchase price…if i get a property at 200k and the rehab is 50 and everyone else makes 30k then we should at least net out 30k as well.

Ideally this happens without any seasoning/payment history period, since I am reselling the house and lose title upon sale.

Ideally, we'd want a single family tenant.Will keep you guys posted as to which direction we go in the next 48-72 hours.

What would you want to see from a private lender? --Feel free to share your own thoughts and considerations when you're looking for assistance from a PML!

Do you think we should be in CCR or is it ideal not to have CCR at all?