-The Days on Market (DOM) figure for single-family homes fell from 51 to 26;-Total property sales rose 9.2 percent with 12,036 units sold;-Total dollar volume increased 26.7 percent to $4.3 billion;-The single-family average price increased 14.0 percent to $380,233; -The single-family median price rose 15.2 percent to $310,000; -Single-family homes months of inventory registered a 1.9-months supply, down from 2.6 months year-over-year and below the national inventory of 2.6 months;-On a year-to-date basis, single-family homes sales are running 17.4 percent ahead of 2020’s record pace.

Check out the housing stats:Florida Realtors research demonstrates a year-over-year Closed Sales up 57%, Cash Sales up 119%, Average Sales Price up 33%, Dollar Volume up 110% ($2.7 billion), and Months Supply of Inventory down 59% in Miami-Dade County.Fortune Builders recently listed Miami as a top ten city for rental prices (Check out Fortune Builders Cities with Highest Rents data), and Insurify places Miami at #3 for percentage of renters (Where are the Renters?).

On average, homes in 19023 sell after 39 days on the market compared to 45 days last year.

After I get my rent and W2 income and subtract out the expenses on average I save about 1500 per month.

- airDNA forecast increasing, >$550/night by 2021)Short term Rental Fees:-Property Mgmt (20% of revenue)= $1900.00 -Local tax (13% of revenue) = $1235.00General fees:-Mortgage Principal+Int: $1578-Insurance(monthly): $160-Property tax(monthly): $317-PMI: $200 -HOA: $0-Maintenance: $500/month -Utilities/electric: $250-Utilities/grass: $150-Utilities/water: $100 -Utilities/Internet: $70 -Cap Ex (saving 5% of revenue): $475-Vacancy (Saving 5% of revenue): $475——————Total: $7410$9500-7410$ = $2090 cash flow/month on average ——More traditional rental, eg month-to-month: 4 months per yearRental IncomeUnit 1-(3 bd/1ba): $2500/mo Unit 2- (1 bd/1ba): $1100/moUnit 3- (1bd/1ba): $1000/moTotal: $4600/monthGeneral fees:-Mortgage Principal: $1578-Insurance(monthly): $160-Property Mgmt (10% of revenue)= $460-Property tax(monthly): $317-PMI: $200 -HOA: $0-Maintenance: $500/month -Cap Ex (saving 2.5% of revenue): $ 122.5-Vacancy (Saving 2.5% of revenue): $ 122.5Total: $3460/month$4600-3460= $1140/month in cashflow on average

The property itself has an ARV of 540k on a low estimate (last sale of this model was 667k, but since then our market has cooled down and the 540k is taking an average of sales over the year for a margin of error).We are looking to acquire the property at 315k, with 85k in necessary renovation. 

There was a template I downloaded online and modified it to my liking.

I’m not saying it’s the worst idea, but it’s an average one at best.

It's a 10 unit, B neighborhood, built 1988, 5% vacancy, average rent is currently $742, but it can be pushed up to $955.

We figure an average turnover does cost us about 5k.