However, the method works just as well for comparing large markets as it does small.  

Cutting down timelines to not extend carrying costs Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Pros and cons to both: STR/MTR is more work, but normally, there is a higher return and higher risk, and LTR is less work and has a lower return and lower risk.

Funny how that works.

My W2 job was going well for the past few years, but recently have been large gaps in steady work.

Congrats on the nice work!

Purchase price: $240,000 Cash invested: $10,000 Working on getting this first "OFFICIAL" deal under my belt.

You will spend lots of time checking the quality of their work, from TAXES, to the most mundane administrative work of Registered Agent services.

You have to work the deal where in the worst case you break even. $300 will convert on $500 or more for repairs and additional costs.You have to find a good deal and partnering with an agent to help you achieve that is key.

Think of all the things that can go wrong and you want a way to remediate it in the JV agreement. we did this once and the partner never started the work after a year so we deemed the note in default and were going to take back the property but they ended up selling another property to pay us off.