I’m currently targeting properties in the $200K–$500K range, depending on the location and potential cash flow.

@Isaac Terry Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

While you building your score you will be looking for land to buld a home on and jerome will be telling you how to go about finding best location to buld the house the best criteria  to use to pick that locTion and thw price point you want to pay.

Can you give me a little more information about where the property is located? 

This Product has also got my attention and i'm looking to pick this up in the coming week or weeks once I can locate a lender servicing them.

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

I was going to look over your numbers for you, but can you answer a few questions:* In what zip code is this property located?

Biggest struggle is finding deals that make sense where the numbers work and in locations that would work for STR.

When the rent rates stabilize, I suspect they'll bring it back.I wouldn't try it in a location like Portland, but 99% of the country would be fine with a policy like this as long as it is disclosed and applied equally.

"^ Do you feel like income you make on the units is based more off of square footage or location rather than add-ons you made for you while living there?