They get the advice, but they can't be wrong, so they buy a property in an HOA that doesn't allow STR and in a town that has groundswells against it and requires permitting.

Because two things: first, if you can't save enough money to make a down payment on an investment property, you shouldn't even be in this game, and second you are going to need cash reserves to cover the infinity of things that can go wrong on a rental, which means you should already have some free cash flow coming in from somewhere to account for that before you even rent the place out.

Best regards,Drago Hi,You make an excellent point about the flexibility of private money lending in today’s market.

I'm still trying to figure out what an appropriate goal is or what is realistic to me.

I just created an LLC for my new rental property.

If you don't have any liquid reserves, you should build up 6 months of expenses as an emergency fund (in case you get laid off, disabled etc).

Has anyone transferred a rental from a LLc in one state to an LLC in another state?

I live in Miami, FL and don't want to buy here since prices are incredibly high.I want to invest in growing communities, not exactly sure if I want to buy an AirBnb as my first out-of-state investment or 3-6 month short term, or a 1 year+ property.

Just am commenting on an opinion.

It was just an inspiration as I was setting the place up.)Thanks!