I am often asked this question:  "What is my biggest financial risk in buying/owning a short-term rental property?"

Hi all, new here at the forum and thank you all for all the knowledge you guys share…its amazing.I am interested in this question as well as we just got back into this from like 10 years ago, few things have changed for us, and the main one is finding deals with whole sellers, sometimes the price looks good, but once we add numbers we are currently seeing that everyone else in the deal makes tons of more money than us….for instance, we have checked properties now, where we pay closing cost, interest on a portion of the borrowed money, commissions after selling the property, etc and we see 30-40k going out on all of this,  then we barely make a 20k profit or less on a property of 200k …many of the deal we found we barely get close to a 10-15% of the initial purchased price, which to me sounds like a lot of hassle and my wife says that i am getting old and too picky :)i keep saying that ideally we should shoot for 15-25% profit from the purchase price…if i get a property at 200k and the rehab is 50 and everyone else makes 30k then we should at least net out 30k as well.

My wife and I have 30k saved and can only get a mortgage of 150k because my wife doesn't work because she takes care of my two kids.

I recently broke my own rules and hired a new GC we had never used before to do a 700 sq ft unit thinking it was a small quick project.

In my opinion Florida is headed for a downturn in the local real estate market.

I want to help my son and his fiance get a mortgage but we would need to co-sign.

(Approach - 2) - He says that if he is asked to pull permits, he is not responsible for any additional work that the inspector may throw (basically more money out of my pocket on the rehab costs).

Any email with exotic in the title caught my attention.  

In my experience you don't really need more than 3 lines, its dialing too fast and your number will get tagged.

Happy to share my experience and connect with you