@Brandon Warren Provided you didn't exceed 14 days of personal use after "placing the property in service" (e.g. making it ready and available to rent) converting the STR in June 2023 doesn't disqualify your property from meeting the IRS requirements for STR....

Anyone who lives or invests there can you provide your opinion on the market?

I looking to team up with REs who have done STR-focused deals and provide end-to-end service to manage STR in TN, WI, FL, SC, NC, VA, and Colorado.

You'll need to find a self-paced course program that provides great flexibility and you'll need to commit to the process.

From what I have seen some of these outlying areas can provide better cash flow, less competition and less regulations.

I know there are "mentorship" programs I can join, but if there's anyone here who could provide some insight and would like to connect, please let me know.

There are a lot of smaller inspection issues we see pop up as well that generally speaking aren't "Major" but can still be considered a liability or safety issue in a rental and need to be addressed.

@Anil Bansal: Hi Anil, can you provide more detail on the units you purchased.

You can try looking for someone local to you or there are a lot of CPAs who provide great remote service.

Needless to say, it still will provide you a general idea of what areas to look at:Good areas: Raleigh 38128 (try to push as far east as you can)Bartlett- expensive, but solidCordova - expensive, but strong.