Hello everyone! Long time listener, first time poster :D My husband and I assumed management of my father-in-laws rental property portfolio a few years ago and have since been working hard to educate ourselves, bring ...

There has been new regulation voted on in the earlier part of 2021 that will phase out new permitting for owners of these RM zoned properties throughout Nashville starting on Jan. 1, 2022.If you purchase a property in this zoning, close, and apply for your permit prior to Jan. 1, 2022 then you will be grandfathered in on this zoning and your STR permit as long as you keep your permit active with a yearly renewal fee (currently $320 with a credit card).However, if you purchase a property in Nashville that is currently an STR at a current income-based appraisal approach in these zonings it is important to know that you will more than likely not be able to resell this property to anyone else under this appraisal approach and could greatly affect your long term plans of these types of properties.I have had several other realtors, investors, developers speak with me recently with the solution that they could simply put the property into an LLC and then sell the whole LLC in order to skirt around this new regulation.

I am taking a conservative approach when estimating the ARV as it is difficult to estimate the price appreciation of the property because of the new constructionThanksMo

Different approaches?

Approaching 50yrs old so clocks ticking and I can’t believe it took me this long to open my eyes to REI.

The key is to approach it as a conversation given you don't want to lose them.

Should I wait it out until the monsoon season is approaching? 

Will's advice is invaluable - I highly suggest approaching different agents with an "interview" mentality, but I'm always available if you have any questions about the DFW market specifically.Also, check out some of the BP calculators if you haven't already.

I’ll try that approach.

My plan originally was to always buy and hold for 5-7 years as i move through out my career but the crazy thing is the markets have always BOOMED as we approached moving time. it made more sense to me to cash out at those time than to hold the properties long-term with my living situation changing every 3-4 years.