I'm John Reischman from Indianapolis, IN, passionate about real estate investing forclose to 10 years.

Looking to get started in my investment journey and trying to figure out some criteria on where to invest.

Are you kidding me, your entire investment is based on using the property for short-term rental - any complaints by neighbors and you have to cease.

I've read a ton of books and own a couple of investment properties locally.

but the $7000 to pay off the vehicle will only save me about $600 in interest whereas investing that 7k into another home or renovations, like adding a new bathroom to my current 3bed 1bath home, would yield way more than the money saved.

It's essential to conduct thorough market research and financial analysis before deciding which strategy aligns best with your investment objectives.

With your amount down, I'd say that house hacking or investing in a single-family rental are both solid options.

Mortgage, Taxes, Insurance, HOA: $3040.37Estimated rent: $2475Total Expenses: $3660.12Vacancy (5%): $123.75Repairs (5%): $123.75Capital Expenditures: $100Property Management (11%): $272.25Information when I bought the house in 2022, new constructions Purchase Price: $373000Purchase Closing costs: $4662Current home value: 400k-420kCash Flow: $2475-$3660.12= -$1185.12; -$71107.2 at 5 yearsCash on Cash Return on Investment (CoCROI): 0%Appretiation per year (6%); $535,290.23 at 5 yearsEquity: Loan value $345,089.53 at 5 years; $190,200.47 in equity at 5 yearsLoan Value today 6/2024: $368,201.59Total ROI in 5 years= (Total profit/Total Invested capital)/ Time (in years); Total profit: $190,200.47Total Invested: $71107.2 (neg cash flow) + $42757 (closing sale costs)= $113,864.20Total ROI (5 years)= ROI 67%, annualized ROI 10.8%My biggest concern is that I am relying solely on appreciation and assuming will appreciate at 6% per year. 

For this reason, you may also want to consider investing in a fund instead of a platform.

I'm Reed from Charleston, SC, passionate about real estate investing for 9 years.