So here are some facts;We own two stilt houses (4bed/4 bath) in ocean lakes.wr average between 135-160k in the two combined.The amenities are ALL allowed to be used by any guest(s) that stays in our homes.Ocean lakes is a resort and campground - it is secure in it's ability to keep its str usage and zoning due to same.you dont own the land.

It is really important for us to keep the units booked to cover the monthly overhead (higher monthly rates to cover the 4th unit not being rented). 

This can help keep you in a lower tax bracket each year, potentially reducing the total tax you pay.

It's the rare person that keeps their car cleaner than their house. 

So keep in mind that you'd need to replace that mortgage at new rates to correctly defer taxes (Although I'm not a CPA, ALWAYS confirm with one). 

To prevent cost overruns and delays, keep close tabs on project schedules and spending.The optimal strategy for financing your first real estate transaction will ultimately rely on your personal objectives, financial situation, and level of risk tolerance.

I manage an AirBNB in Sevierville and I’m a realtor, however, I keep the #s REAL.

Your answer would be it depends on a million things.Like the specific property, its condition, location to desirable areas, local STR regulations etc.We would need much more detail to be able to help.OBX is the acronym for the Outer Banks in North Carolina  This should be a great area if you can find the right property at the right price.You have to keep sifting through what is available till you find one that you like where the numbers make sense.I looked for 2 years when I was buying my lake house to find that great property.

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

Why I use HardMoney: Higher ROI on my Money I can keep more of my own cash in reserves in case something goes sideways.