Mid-Term Rental or Traditional Rental in Mesquite

[Jennipher Jess]

Hello BP, 

I really need help and opinions! My husband and I need some assistance. We just closed (literally) on a townhome in Iron Horse Village in Mesquite, TX. Since we put a deposit down on the property, the rental rate has dropped significantly, due to the fact that several investors purchased townhomes at the same time, driving prices down. They sold to a pool of 20 investors (which we were not a part of) and in a month prices that were looking like $2700-2800 are now looking like $2200-$2400. 

When we originally went in on the deal we were looking to sell in a few years, as they are building a community of shops/restaurants across the street from the townhome and just take a loss until then, but these numbers are dramatically lower than anticipated around $700/month in losses. 

All this said we CAN take the loss and find a renter for a 12-month lease at say $2400/month OR we were considering a mid-term rental in the area and furnishing the townhome. This is all new to both of us and we are looking for any and all advice from the best places to furnish the MTR if we go that route, to the best options with leasing. 

Thank you in advance :) 

Jen