If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.

The short term rentals up in that area do very well all around Crystal River the Springs.

Starved Rock Country (LaSalle County, IL) is a great place to invest, especially for short term rentals. 

Keep learning, networking, and exploring opportunities that align with your long-term wealth-building goals.Good luck!

Just include it as a term of any offer you make to have the seller pay your brokers commission. 

It would be best to perform the renovation of the unit and have a long term solution in place. 

Prepayment penalties- usually 1-5 year terms.

The greatest saturation is found with STR in residential neighborhoods.Summertime in Borrego Springs is similar to Joshua Tree in terms of temperatures and you need to be careful about floods in Borrengo Springs as the majority of the town is in a flood zone. 

My mom has established new lease terms with a 5 year lease agreement with the Company in an effort to protect herself against the possible liability that would come from having to remove the blades, and required a huge insurance policy to protect her against this too. 

I am in the process of moving to FL where I have 2 short term rentals. both with mortgages on and the new Primary will also have a mortgage.