Build credit history and savings for down payment and closing costs.

Another option is to raise private money loans for the downpayment and set-up costs of a STR.Above all I would make sure the neighborhood can support two STR.

Here are the details at a high level:Purchase price: 174,000Closing costs: 2,000Down payment: 20%Rental income: 1525Monthly expenses: 487 (insurance + tax)Maintenance: 128 (1% of purchase price)10% vacancy: 150Self-managingI am not sure what interest rate to use to get the monthly mortgage amount.

Pros I can think of: - higher rent rates (renting by the room) - saving cost and time on upgrade - easier advertising Cons I can think of: - high turnovers  - limited screening - possible wear and tear  

The property's estimated After Repair Value (ARV) is around $525,000, and my total investment stands at $350,000.This is my first venture into a property with 4+ units, though I consider myself a seasoned investor in other real estate ventures.

This improvement suggests a growing buyer interest and possibly limited inventory, creating favorable conditions for quick turnovers.Toledo OH - RE Analysis (April 2024) - House Sales (1).pdfDemographics and Economic FactorsPopulation and Economic CharacteristicsPopulation Size: With a smaller population of 5,341, 43620 offers less competition in buying and selling, which is beneficial for flippers targeting niche market needs.Income Levels: The lower median household income ($27,442) suggests a demand for affordable, refurbished homes—ideal for flipping projects aimed at cost-sensitive buyers.Housing and Ownership TrendsRenter-Occupied Properties: A high percentage (68%) of renter-occupied properties indicates a transient population, potentially less targeted for flipping.

Your difficulty and cost will be based on many factors.

So, does anybody know any resources that I can use to send mail at lower costs?

Purchase price: $252,000 Cash invested: $65,000 PP 252k5/5@ 5.75%Rehab cost- 20kARV 350k-370k What made you interested in investing in this type of deal?

Rebuilding cost by the insurance= $600kNow logically speaking, FMV should be >= Rebuilding cost.