I am completely ecstatic about meeting like minded individuals! 

Remotely managing a short term rental will require you to have higher costs for Co-Host and might completely offset higher income from short term rentals depending on your market.  

The properties are "better" by various metrics relative to properties in California, but they are in completely random, less than ideal areas, which highlights the lack of insight the investor has in the area.The most successful investors I work with have partnered with true, local expert Realtor partners that have a very high awareness of the local market but that also understand investing. 

This is to say that my 4 year investment yielded net 224K, approx. 56k per year...I did a lot of improvement works on the house: new floors on two of the three floors, tore down a wall down, completely rehabbed the basement, added a bathroom, put in a new kitchen, replaced some appliances and many other cosmetic jobs which were costly but I did myself with the help of my father and the occasional local handyman.

(pictures of current house pre-renovation listed along with a second house-MISTAKE)July 23, tenants move out and return keysAug 31 First set of renovations complete, mostly cosmeticThrough Sep I negotiated with Norada and M.I.P to improve the renovations, I was not satisfied with work nor scope, they agreed to all items and improved the unit through Sep while it was on the market.Sep 12 Appraisal came in for asking price of $95,000, cost $495Sep 18th Third Party Property Inspectors found items, M.I.P fixed all issues, Cost $295Sep 28th, closed on the property, no tenant yetClosing: The closing was smooth, mobile notary came to my houseAll paperwork initially was signed via DocuSign, but ended up signing everything in front of the mobile notary at the end againElectronic copies were available post-closingNo issues with wiring money, etc.Post-Closing: Home is still empty, Reedy and Company Realtors, LLC is now the Property Management companyPictures of final renovations were provided after many inquiriesHouse rent rate was lowered to $965 after sitting vacant all summer at $1065I was not sure why they raised the rent so high during the closing process.

You've got the big ones but sometimes I'll also adjust utilities or r&m if I think capital improvements completed as part of the transaction will impact those figures.

I'm in the process of completing my first deal and hungry for more!

You may only complete your exchange using properties on the list.   

Hey BP folks. My first deal is going to be through creative financing / sub 2 and was wanting some advice on who I should have on my team ( Contractor, Attorney, Title Company, etc). Is there anyone that is a must hav...

As part of the process, we will transform an average, unfurnished property into a high-end, fully furnished corporate tenant-ready home.The platform is far from complete and we’re currently validating our assumptions.