Sorry, I have never taken the time to educate myself on month-to-month as those are leases I do not care much for, clearly I will have to learn so I can do it right.Going to jump into looking at this and will appreciate any further input on the most recent questions asked here, thanks

“I don’t much care where–” said Alice.

The price range of $1000 - $1500 should not experience any issues in a year's time and likely aren't now.My concern is with increased rent concessions, it may be foretelling of an impending correction, slow-down, or recession. 

To be clear..operators CAN LEGALLY "wholesale" if that is their desire:1. own the property and resell (some call themselves "wholesalers" and others call themselves "flippers"2. be licensedThe main reason for this post was to make people aware that some teachers don't know the laws or don't care. $5400 is a lot of cash to pay for BAD information.

Dan or Joe at TCS MGT will be able to give you more information on the rental license than you care to know. 

@Philip MullinaxDepending on the Tenancy Law in your jurisdiction, a transfer of ownership in the middle of an eviction may provide the tenant an opportunity to stay the eviction and compel you to recommence action once you are the owner.  

So for these, you just need to work out how much less than ARV you care to go.But if you're talking commercial (5+ units), then yes, rent is very important in helping determine value, because their market value is heavily influenced by the market cap rate there!

Based on feedback from other hosts I will probably add a TV in the living room and portable air conditioning in the bedroom this Spring.I am very careful not to allow long stays because I want families that are vacationing -- not homeless people who seek to establish residency. 

I am not a lawyer and not giving legal advice but you have to seriously consider the cost of an LLC/EIN number for every property. 

Anyone out there who has taken a DIY approach to REI (ie not through turnkey companies) and is actively investing in 3 or more markets (meaning not just holding rentals from once upon a time but still looking and buying in at least 3) care to chime in?