I have had great success there by managing long-distance from Atlanta, and I am now ready to expand into other excellent STR markets.

@Joe KoonerI have a (what I feel is) a great excel sheet for roi calc.

@Elizabeth Pare you bring up some excellent points and concerns.

So if you look in a window all you see is moldy attic insulation covering the floor.

If you're currently making wise financial moves, real estate can be an excellent way to super charge what you are already doing in terms of investing for long-term (appreciation) and short term (cash flow). 

I would say with good time lines and excellent plan and permits already reviewed. 

At this point, I would recommend having a line of credit to cover these things so you don't have money sitting in the bank doing nothing when it could be put to work.I have 33 units, no debt except for mortgages, and excellent income.

As far as the renovations, I used a local contractor, also lucked out in that regard, the guy was excellent and it was godsent having him handle many of the logistics i.e. receiving packages that I had bought to ship up to the house for the reno, among other things.

As long as you are willing to put in the work Arbitrage can be an excellent strategy toward financial freedom.

@Veronica Giggers for amortization schedule excel has one you can download and tweak the numbers and amortization period really easily.