That being said, it's tough to get over the relatively high rate of return for STRs when you are comparing them to LTR. 

This $500,000 property has a 30 year mortgage with 25 year left at a 3% interest rate.

Then look on VRBO and Airbnb and guesstimate rates and occupancy for your area on comparable properties.Put all this in a spreadsheet and let it do the math.

I'm no longer a W2 employee so I am not currently contributing any funds to it. 

DSCR is a better option on rates and cost compared to Fannie and Freddie loans.  

Add a short statement at the end outlining whatever you are changing, have all parties date and sign, and you are done.Example: "Landlord and Tenant agree to extend this lease for an additional 12 months with a new termination date of 12/31/2025 and a new rent rate of $1,950.00 per month."

New construction may be an option, many builders are offering rate buy downs and closing cost assistance and then you get quicker appreciation when they continue to build out the community.

I work at a hedge fund, which allows me to save a good bit of money. 

I'm looking for a PM group that has a reasonable monthly rate, manages tenant selection well, addresses property issues with quality, and conscientiously and actively turns properties when vacant. 

Hi,I am planning to buy my first rental property and looking at Harvest, AL. Researching on zillow, I am seeing several new properties under construction in this area with rental properties vacant for over 40 days. Wo...