Purchase price: $215,000 Cash invested: $55,000 When we talk about long term rentals the goal is to buy something that people are going to live in 3-5 years with the ability to raise rent over time ahead of insurance, taxes and inflation.

If this property had been in one of the areas zone for more density they would surely have done a normal "Seattle six-pack" of 0-lot-line townhouses but instead they short platted 2 lots to still in effect end up with a six-pack even though in an area not zoned for it, at the cost of having to sell units as condos and deal with other ADU limitations (e.g. 1000sf limit).In 2023 the State mandated Seattle-style ADU regulations across all urban growth area cities/counties, going even a bit further (2 of any combination of attached/detached allowed).

I would not especially if it’s a long term holdLastly if cash flow is negative they pitch in ?

3rd, who's is the contractor, is he someone you just " found" or have you had success with him? 

Lot of great replies on here already - only thing that I would add to consider is getting a few outside opinions from realtors, other hosts, property managers, etc. about the medium to long term outlook for STR regulation in your specific area.

Based on my experience working with real estate investors and property managers, here are some common arrangements for local handymen and maintenance personnel for short-term rentals:On-call basis:Pay a set fee per call-out (e.g., $50-$100 per visit)Hourly rate for time spent on-site (typically $50-$100/hour)Additional charges for parts or materials usedRetainer agreement:Monthly flat fee (e.g., $200-$500) for basic availabilityAdditional charges for actual work performed beyond a set number of hours or visitsPer-task pricing:Agree on set prices for common tasks (e.g., $75 to unclog a drain, $50 to replace a lockbox)I like the per-task pricing as long as your maintenance calls aren't super frequent.I'm also a hard money lender if you're looking at a new deal to get quotes on soon or if you're looking to refinance a property soon!

Hey Jerell, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

I’m willing to invest in any market that supports long term rentals! 

Not sure where to start with my search and a good process to follow to make sure I am diligent and successful with the investment.

We focus on year leases and sometimes allow existing long term tenants to do shorter renewals if they're nearing the end of tenancy and moving or what not.