I’ve found a duplex that seems to be in good condition, with both units currently rented out.

Unresponsive to owners for days on what is the condition of their property?

YES that is exactly what it means. 

I’m sorry it was the exact opposite for you.

@Lisa Oliver I wouldn’t give keys to trades men under any condition.

The exact amount varies by lender but is usually around $5,000 or more.Recalculation: After you make the lump sum payment, your lender will recalculate your monthly payments based on the reduced principal balance.

A CPA experienced in STRs should be able to break down exactly how to meet material participation requirements in your unique situation.

Any investing usually has a level of risk associated so you want to make sure you know exactly what that is when it comes to the flint market. 

For this deal to work under those conditions, the purchase price would need to be closer to $179k.With your original assumptions 249k, the deal is marginally acceptable but not great, given the negative cash flow in the early years.

The rest of 2024 and early 2025 will likely reveal more about how different segments of the market adapt to these unique conditions.