Low Repair Costs: With only $2,500 needed for repairs, the investment required minimal additional funds.

Hey Suraj, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

Shaydon,DSCR only requires 15% down for a SFR purchase but there is no way to use the equity in a purchase scenario.

But with that comes more expenses, more insurance, more turnover, more cleaning services (I live 3 hours away) - so much more to deal with. 

If you are not in business yet, you cannot depreciate or write off operating or business expenses until you have a property in service. 

@James Lauer If the STR strategy is the only strategy that makes the property pencil, be sure to purchase in a market where (1) the use is allowed, (2) the use requirements are protected by in place permitting and licensing and (3) the permissions are transferable through a sale.

Things may look great right out the gate, then two years later you have an expensive repair on the foundation.

Here is some information that might be helpful.Rent Collection/Property Management:For collecting rent from multiple tenants and managing your property, here are a few popular options:Cozy.co: This platform is free for landlords and provides rent collection, expense tracking, and even maintenance request functionalities.Buildium: This is more comprehensive and suitable if you ever decide to scale up and manage multiple properties.

I was prepared not to claim it as an expense but now I'm having second thoughts.

I think it's a great market, but been relatively expensive.