You can include moving and storage costs in the charges.

Purchase price: $130,000 Cash invested: $9,000 Sale price: $185,000 I did not have the knowledge then to keep the property and pull money out to complete renovations to another property we purchased a year after this one that required a complete overhaul.

There's a standard syndication that goes out to sites like Zillow, Redfin etc that is included when it is listed in the MLS; hence why people can find properties from across the country. 

How have you handled it when you've purchased a popular existing STR?  

If they find out, then legally, contractually, they have grounds to retroactively void the policy and deny claims for *anything* it covers -- including losses totally unrelated to STR, like wildfire or a windstorm.  

We purchased the land that we are bringing into the deal. 

We actually CAN'T explain what we are seeing if we are operating on the "purely rational actor" hypothesis (as you implicitly observe), we MUST include highly irrational and emotional individuals to explain what we are seeing.- Investor uncertainty.

Are you wanting to purchase in the same area of Chicago?

Build a strong team, including agents, lenders, and property managers, and use tools like the BiggerPockets calculator to analyze deals.

I'm looking at a purchase price of under $175K.