FYI I've seen a lot of mentions on the threads from Realtors and investors from Columbus OH, really promoting that city.

I’m still figuring out where opportunities are / will be and consume a wide variety of materials.

Just like this nonsense and self promoted stuff:“Matthew Seyoum, Investment Strategist at RTR has provided exceptional support throughout my journey from searching for a rental property to closing the deal.

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

Also, who is disposing of materials?  

Day of the install after all the material is off the roof you’re asked for more money due to lack of material, i.e. compromised wood that was not inspected when it should have been.Just like a mechanic, you probably wouldn’t trust him if he told you you needed a new transmission but never popped the hood. 

Plus now that I'm established and have a portfolio, I pay a lot into the local economy by hiring contractors, buying materials, etc.

There's a misconception that builders are price gouging, but in reality, the price of a home is directly tied to the cost of building it.When material or financing costs go up, home prices follow.

Looking for advice - purchased first STR 2023 and we qualify for active income based on rule 3 of the material participation test.

But what you’re encouraging is that when I am 23, I should use the first 4 or so years just building a portfolio of LTR’s and then when I am 27, look into leveraging STR’s to meet the “Real Estate Professional Status” and “Material Participation” the IRS outlines, correct?