Quote from @Jacob Sherman: Quote from @Kiran Asknani: Hi  All I am new to STR game and am planning to start with investing in Boston area or nearby suburbs as I have spent last 10 years in Boston.

Are you planning to sell your motel?

I’m planning to do this for 3 multifamily properties all located in MA, each ranging from 2 to 4 units.

Without too much detail I had to quit my W2 job 2 years ago to care for my disabled son and my wife is still working.

Hi Malcolm, With your strategy of holding multi-family properties or flipping, the key is running the numbers carefully to match your goals.

No, he's not an architect, he drew all designs, floor plan, site plan, etc, and we had a structural engineer design his part, and paid an architect to sign off on them.  

https://treas-secure.state.mi....some things to keep in mind:-Non owner occupied properties pay 18 mils more in taxes in Michigan - Even with the SEV you should plan that the SEV will go up.

We both run our own businesses but we feel that real estate will help make sure we both maintain our life plans of not needed to work as much any more.

Planning on living off of the positive income and then eventually on our investment.

I would recommend buying a standard SFH with opportunities for an ADU, or a split floor plan where you could rent out the rooms!