Hi @Brendan Jones I moved to Nashville in late 2021 to begin my homeownership and investing career, buying a primary residence, house-hacking it, and transitioning to a long-term rental once I bought my next property (also in Nashville) so would be happy to share my experiences.There is a lot of interest in STRs in the Nashville Metro area, but the zoning has become increasingly strict over the years.

Most of the lenders I work with (provided you have experience and a credit score over 660) would do up to 85% of the purchase price and up to 100% of the rehab costs, provided this doesn't exceed 75% of the ARV.As for the idea of selling the land, great idea.

I will check the market daily over the next few weeks

I think our modeling has adapted to market changes over the years, so we've stuck with Excel as we can easily change the parameters to keep it "fresh".

Mortgages are the last thing to default for a homeowner and appreciation has been so high in Canada that every homeowner who has purchased before 2022 has gained equity and could just refinance their loan over a longer amortization before defaulting.

And how much did you spend in the rehab?

I just do all my bookings over airbnb, its too risky to go direct as the guests aren't covered by airbnb insurance.

For almost $100k a lot you want a pretty high NOI to make sense of it, like over $300k IMO I agree.

Hard Money finance, with about $5k of my own funds going into some over-budget costs.

Quote from @Anne Christensen: Thanks Nathan,  We have over $1M in equity.