Quote from @Bien Nguyen: My husband and I recently launched our STR end of December 2023 near Savannah, GA and are already booked through mid-April 2024 with some bookings in May 2024. 

So many variables can turn a deal sideways from 1 hour to the next - i.e. inspection findings, title issues, contracts, financing issues, taxes, dept. of buildings/local municipalities, etc.I'm glad to hear you made it through the challenges, and it sounds like you'll be able to leverage this experience as you grow your portfolio.All the best to you along your journey!

I actually ended up going through a big career change, and attended a 6-month bootcamp to learn Software Development after 7 years cooking professionally in fine-dining kitchens. 

Investors will buy up all the inventory in any market that has STR cash flow opportunity, and comps will rise accordingly.   

Senate sub committee in 85 studying antiquated subdivisioins that were platted in the 20s through the 60s and Cape Coral or Lehigh acres where the poster child for these the summit was actually there in Ft.

I was able to secure $27k from them and $8k from our savings and the deal went through!

Get at least three bids so you can compare pricing and professionalism.Estimating Rehab Costs:Walk the Property with a Local Pro A realtor, home inspector, or experienced investor can give you a ballpark estimate.Use Online Cost Estimators Websites like Homewyse can give you an idea of labor and material costs in that specific area.Break Everything Down Create a detailed scope of work so you get accurate bids (and avoid “surprise” costs later).Pad Your Budget Always add an extra 10-20% for unexpected expenses because there will be unexpected expenses.Consider a Project Manager If you won’t be visiting the property often, having someone local to check in on contractors and keep things moving can be a lifesaver.Since you’re in Illinois and flipping in Indiana, make sure you’re keeping a close eye on progress, whether through scheduled site visits or a trusted local contact.

We use the collection service through our PM software, but most of these folks become virtually uncollectable at a certain point. 

In a market like this you will get in the way of obvious appreciation.Then you can look for a deal that cash flows in your favorite market market. 

All new tenants should go through the application process and be charged the application fee.