Before you buy you 1st build you awareness of real estate investing, potential team members that you will need over the journey that will likely last the rest of your life and commence recruiting people and investing time seeking out knowledge and WISDOM.Wisdom would say buy in the down cycles of the market and refi cheap when rates are low but investors often have ants in their pants.  

Property is exempt from STR permitting because the jurisdiction considers it to be a commercial lodging establishment.We've been pursuing an SBA 504 loan for it, which was going well until we discovered that the sellers have operated it only part-time the last 12 years -- intentionally blocking 60% of available room-nights because they just weren't up for running it full time in their retirement. 

We would like someplace family can visit 2x  a year and VRBO it the resto of the time as I should be able to have no mortgage on the property. 

I found it really time consuming to measure for every single repair in a house so automated calcs as much as I could based on room sizes.  

I prefer under-valued, distressed, poorly managed, properties needing updating/rehabbing in markets where I can buy at a discount and build equity and cash flow for my time and investment.

Markets that experience this generally realize a sudden appreciation event over a short time period and then the appreciation levels off or slows. 

It's taken a long time and a lot of work to get to that point.But people still have a negative stigma.

Thank you for taking the time and it came at the right time I have an appointment in 2 hours.

Dear BiggerPockets community, My name is Dominik and I’m a software developer in my free time.

I spent a lot of time schmoozing folks when I was rebuilding a house in Gatlinburg.