In addition, we had to pay all the closing costs, which rounded up to $4,000.

The other things I pointed out also came to fruition: natural appreciation is not occurring like it was a year ago, inflation DID impact their expenses too (obviously), and the economic occupancy actual and future projections are aligned with the historics, thus not even close to their projections.

Estimated mortgage $3321, it is in a downtown historical area close to everything with good appreciation potential . 

If you live close and don’t mind going out to check each month (which also gives you a chance to check out the property) it’s a fair solution.

Trinidad I'd prefer the south part of the neighborhood so as to be close to H street.

The property was leased in November of 2008 and it was sold and closed in May of 2009.

At least as far as being close to production hubs goes.

Our Situation:Two couples, new to real estate investing, each with one working spouse with a high income (W2 and 1099) and one non-working spouse plan to go 50/50 on a new construction STR which will not close until Spring of '25. 

It is always a good idea to make a plan, and then see how close you stick to it.

As long as the number work with the way it is now then there is no real need to rush this before closing since many municipalities are very slow on permitting as @Eduardo Rodriguez states.