Obviously, that will eat into your savings, but it sounds like you can afford a few of those and start a nice portfolio!

As in, you don't think you can afford the second with your current finances.

I couldn’t afford anything where I live in Portland, one of the most expensive markets in the country.

However, there's a balancing act between down payment, interest rates, and loan term to ensure your payments remain affordable for the buyer.

Like I’ll buy all the furniture but who can set it up?

Hey so I am researching what actions STR owners could take against communities like those in Colorado who are using affordable housing as an excuse to violate property rights of owners.

As I just sold a couple of rent houses from a business that I started out of necessity and have now closed, I know that if I had a spot I wanted to lease, I could afford to open a shop without financing.This is where the complications start because of the bigger picture. 

If you want to live in SoCal and can't afford it, then sorry, move to another state.

We're interested in out-of-state b/c we currently live in a HCOL area, but want to get started ASAP, which means looking at more affordable markets to start gaining experience.We however consulted our financial advisor a couple times, and have received push back on doing out-of-state real investing for a variety of reasons, including 1) we are currently renting in a HCOL and are saving up for our primary residence buy which is in another HCOL area (LA as want to be closer to our parents when we consider having kids, so this is a bit non-negotiable), which we aim to have enough funds for by end of 2024, 2) we have a fair amount of student debt that we want to aggressively pay off once loan payment freeze ends in 2022.Wanted to share our situation with the forums here and get some feedback.

Also tell her that if she can't afford the rent, that you will let her out of the lease without any penalty.