@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

Purchase price: $310,000 Cash invested: $50,000 Big Blue - 2 units fully rented, 1 with section 8 tenant and 1 unit being used for short term rentals What made you interested in investing in this type of deal?

@Bobby Short

In the short term, prices fluctuate like the winds:  Up one day, down the next. 

., San Diego, and others)—making it feel like a “natural” choice for a regional traveller wanting to get away for a short weekend. 

@Rebecca GonaBigger Pockets is a great place to find a tax accountant that specializes in short-term rentals. 

But I’m thinking of getting into STR investment and become more active.I’m a complete newbie to short-term rentals (STRs) and eager to wet my feet in this area.

Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

Hi @Nicholas L. and @Chris Seveney a few weeks after my post, they did a part 2 for the survey and 2 days ago, the Zoning Dept. emailed out an update for the proposed policies.Here's their message:"We want to keep you informed and share a preview of the proposed Short-Term Residential Rental Ordinance regulations and express our gratitude for your invaluable feedback and participation in Phase I and Phase II of the Alexandria Short-Term Residential Rental Study.

In short, I’m trying to figure out if it’s worth pursuing an off-market seller financing deal versus getting a traditional loan and competing for the property on the open market.