Annual increases in keeping with HUD's fair market rents build in a stable increase in revenue.Regular inspections from the local agency provides us with an excuse to get into the units to check for maintenance issues that often go unreported and cause more damage.We love the model.

We went around and spoke with about 5 local builders and visited their sites, did walk throughs, etc...

You might want to just start with hiring a good local PM and have them take over management from here.

HI my name is Filipe Lema , I am living in Westbrook, Maine. i am a new investor and looking to be connected with local investor.

Outside of that, you can easily be duped by Google or local property managers.

If you're really interested in investing here I'd explore the city and network with local players.

Someone with a great deal of tax experience has answered your question, I'd suggest you arrange a "paid" phone engagement if you don't have anybody locally.

However, I would definitely want to see the loan handled by a "local" lender - not one of those online VA loan companies.

Join some local FB investing groups.

Future investors might consider this and possibly look into local property management solutions if they're not able to frequently visit the site.Recommendations and Networking: Sharing contacts like Jeff Chisum who have proven helpful in your investment journey is beneficial for the community and helps foster reliable networks of professionals.Lessons Learned: Your insights into the challenges of managing a high-elevation STR during winter are invaluable.