Lots of moving parts here of course but I feel like it's very doable.

If you feel confident in the tenants signing those long term leases, this is a slam dunk and you'll have a cash cow on your hands very quickly!

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

Structuring the agreement properly, outlining how profits will be split, who covers the rehab costs, and what the timeline looks like can ensure the seller feels confident in the process.

My wife and I feel real estate is a great catalyst to get us there.

If you're ever in need of a PM in Palm Beach feel free to reach out!

@Robert Spiegel Great question, and it’s always a balancing act when dealing with long-term tenants who’ve been fantastic overall.Based on my experience managing over 1,200 rental homes in North Texas, including areas like Dallas, Fort Worth, Plano, and Frisco, here’s how I would approach this:Cleaning Charge: While $540 may feel steep, it can vary depending on the size of the property and local market rates.

That's why it's important to be confident in your team so you feel like everyone is working together towards a common goal (good investment for you, agent gets paid for their support). 

We are coming down to get a feel for some neighborhoods we've been looking at moving too and don't really have too much planned so I thought it would be a great time to connect with some lenders, investors, contractors, and liked mind individuals while I'm there!

I feel like those lists are sold and resold numerous times over and over again for the same data.