Outside of that, you can easily be duped by Google or local property managers.

HI my name is Filipe Lema , I am living in Westbrook, Maine. i am a new investor and looking to be connected with local investor.

Someone with a great deal of tax experience has answered your question, I'd suggest you arrange a "paid" phone engagement if you don't have anybody locally.

If you're really interested in investing here I'd explore the city and network with local players.

However, I would definitely want to see the loan handled by a "local" lender - not one of those online VA loan companies.

Future investors might consider this and possibly look into local property management solutions if they're not able to frequently visit the site.Recommendations and Networking: Sharing contacts like Jeff Chisum who have proven helpful in your investment journey is beneficial for the community and helps foster reliable networks of professionals.Lessons Learned: Your insights into the challenges of managing a high-elevation STR during winter are invaluable.

Join some local FB investing groups.

Keep in mind I removed 10% mgmt fee, but kept 10% reserves for Capex and repairs:Cash Flow : $960   Pro forma cap rate of 8.42% (obvs better if you could get my high estimate of $75k rehab down)COC return:  9.6%If any OOS or local KC investors  are interested in having detailed analysis and information sent your way, contact me.

(If you are local are doing a survey in the next weeks with our RPA members here in Milwaukee and then publish the results on April 24th on a live call)

Attend a Meetup in your area or meet someone local and grab a coffee or a beer.5.