Hey Jennifer, I actually work with a company that does all of this.We (essentially) wholesale deals to OOS investors, connect them with our contractors, manage the rehab for them, and have a property management division as well.It's the whole A-Z operation and we did 200+ deals last year and more than 1/day this year.I'm not pitching you at all.

I do this every year, caviat is that it must be a single member llc, then you can combine it with your w-2 and deduct losses from your taxable income.

The good news is, if it's your primary residence and you've lived there for at least 2 of the last 5 years, you might be exempt from this tax up to a certain limit.

The seller has replaced the roof last year.

Last year was a tough year for STRs everywhere.

For my Gatlinburg / Pigeon Forge cabin - January and February ultimately had similar numbers as last year, but at times it looked bleak. 

I'd also increase the number of builders you interview. on my last project I gave 85 builders a chance to match my number since I carry a license and only 2 could get to my numbers. 

I took a break after my last ADU build but seeing this definitely has me thinking about my next project.  

I've paid $6 per square foot for 6 of the last 10 houses I bought. 

Also, surprisingly (and because I was new to this), I noticed most of the action was in the last 5 minutes.