Hi,Im an agent in Virginia Beach and a Navy veteran.

Hi Cameron, based off what you’ve explained I believe you could go several routes but a heloc would be great considering you have the equity in a rental already.

Hi CPT Awesome!

So in my mind STR is good tool to catch long term appreciation and REDUCE EXPENSE when folk is vacationing.For me it is as the following:if you like snowboarding you would buy in Tahoe or Denver or Aspen.if you like beach you buy in Hawaii, Destin, Panama Beach FL or San Diego.if you like hiking/forest you go to these Servier county,etc.The problem is if you don't have hobby and don't like to go for vacation LOLI cut 90% of my vacation budget by having STR, this is the internal profitability metrics LOLIf my own purpose is to make money I would find investment that yield 30% IRR and >1.5EM and I know it's not that in vacation market in 2023 lol.

Hi @Joel OhTo be considered a Real Estate Professional you need to meet the threshold of 750 hours annually AND more than half your time.

Hi Zach, glad to have you on the forums! 

Hi guys! 

What you experience in Milwaukee is pretty typical for a class D neighborhood.

Hi @Mary Chen, If we are utilizing a 1031 exchange on the sale of this property the expenses you incur for repairs wouldn't necessarily fully translate to cash in hand at closing without potential tax burdens.

Hi Jerome and welcome to BP!