looking to purchase a home in Pasco county FL to rent out. very new to this!

Tampa, Florida
Medium-Term Rentals
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looking to purchase a home in Pasco county FL to rent out. very new to this!

Laura Covic
Member since 2026 · 1 post · 3 votes

looking for some advice on first steps to purchasing a home and renting it out mid term lease. what would be my very first steps? my sister lives in NY and will be purchasing the home and I would be managing the rental once we've rented the home out. we are in the very beginning baby steps and very new to real estate. ive been reading all through this forum to familiarize myself with real estate language and first steps to move this forward. any help is appreciated!

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Jorge VazquezBusiness Member
Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 679 votes
3mo

Laura, after 25+ years of investing and owning about 40 rental properties myself, the biggest piece of advice I can give you is to stress-test every deal. Ask yourself: What happens if rent is lower than expected? What if repairs come up? What if it sits vacant for a month or two? If the property still works, you're probably looking at a good investment. Once the numbers make sense, don't overthink it. Analysis paralysis stops more people from building wealth than bad deals do. Trust the numbers, be conservative with your assumptions, and take action. Every investor I know who has built a portfolio started with that first property.

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  • Jorge VazquezBusiness Member
    Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 679 votes
    3mo

    Laura, after 25+ years of investing and owning about 40 rental properties myself, the biggest piece of advice I can give you is to stress-test every deal. Ask yourself: What happens if rent is lower than expected? What if repairs come up? What if it sits vacant for a month or two? If the property still works, you're probably looking at a good investment. Once the numbers make sense, don't overthink it. Analysis paralysis stops more people from building wealth than bad deals do. Trust the numbers, be conservative with your assumptions, and take action. Every investor I know who has built a portfolio started with that first property.

    Graystone Investment Group4.6268 Reviews
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    1Reply
  • Mark Mabry
    Lender · Member since 2026 · 13 posts · 5 votes
    3mo

    Hey Laura, 

    I just shot you a message. Feel free to text or call me. 

    Thanks!

    0Reply
  • Denise SuppleeBusiness Member
    Realtor · Willow Grove, PA · Member since 2017 · 962 posts · 636 votes
    3mo

    Hello and welcome @Laura Covic

    If you're just getting started, I'd focus first on understanding your market and your numbers. Before looking at specific properties, make sure you have a clear idea of what mid-term rentals are renting for in your area, who your target tenants will be, and what your expected expenses might look like. I'd also spend some time discussing roles and expectations with your sister upfront. Since she will own the property and you'll be managing it, having those conversations early can help avoid misunderstandings later.

    One thing I've learned over the years as a Realtor, property manager, and investor is that education before purchase can save a lot of expensive lessons afterward.

    Wishing you both the best as you get started on your real estate journey!

    Spark Rental Co-Investing Club576 Reviews
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  • Mohammed Rahman
    Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
    3mo

    Hey Laura,

    If I were in your shoes, my first step would be building your team. Start by connecting with an investor-friendly lender and agent who can help you understand your budget, financing options, and what types of properties make sense for your goals.

    At the same time, get really clear on who you're hoping to rent to. "Mid-term rental" can mean a lot of different things, and your target tenant will influence where you buy and what type of property you look for.

    One other thing I'd recommend: since your sister will own the property and you'll be managing it, have a conversation early about roles, expectations, and decision-making. It'll make things much smoother once you're up and running.

    I'm a real estate broker in NYC and Long Island, and I work with a lot of first-time buyers and investors. You're asking the right questions at the right time. My DMs are open if you'd like to bounce around ideas or talk through the process further.

    0Reply
  • Arman AhmedPro Member
    Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 904 votes
    3mo
    Quote from @Laura Covic:

    looking for some advice on first steps to purchasing a home and renting it out mid term lease. what would be my very first steps? my sister lives in NY and will be purchasing the home and I would be managing the rental once we've rented the home out. we are in the very beginning baby steps and very new to real estate. ive been reading all through this forum to familiarize myself with real estate language and first steps to move this forward. any help is appreciated!


    The very first step is to get clear on your buy box and run the numbers conservatively before you ever make an offer. For a mid-term rental, I’d look at expected rent, vacancy, furnishing costs, management, taxes, insurance, and any local rules that could affect the lease structure. Since you’re new, keep it simple at first and focus on buying in an area with steady demand, not just a “cheap” property. If your sister is buying and you’re managing remotely, the biggest key will be building a solid local team early so you are not figuring things out after closing. It is also worth comparing Florida to some Midwest markets, where entry prices can be lower, and the numbers can be a little easier to make work for a first deal.
    [email protected]614-418-6081
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  • Juan Yepes
    Lender · Miami, FL · Member since 2025 · 121 posts · 33 votes
    2mo

    Hi @Laura Covic,

    Since your sister lives in New York and that is the reason you will be helping her manage the rental, then she would either need to qualify for a second home or an investment property loan.

    Depending on your risk appetite, starting out with long term rentals might make more sense. The vacancy risk on mid term rentals might end up costing you more than the additional rent you would receive from long term rentals. You would also find the best financing terms by focusing on long term rentals as a new investor/landlord.

    Much of our lending business is in the west coast of Florida where we collaborate with some of the top producing real estate agents in the country. Happy to connect and provide more in depth guidance and possibly some referrals if you'd like. The first step as a new investor is to find the right team that will guide you the right way.

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  • Amber Stout
    Lender · Tampa/Saint Petersburg, FL · Member since 2014 · 356 posts · 148 votes
    2mo

    Hi Laura, I would suggest understand what you're buying for meaning are you buying for cash flow, appreciation, etc, then get familiar with the areas, and lastly and most importantly underwrite/know your numbers. 

    My biggest recommendation would be to talk with a lender and an investor friendly realtor early. Even if you're not ready to buy yet, it'll help you understand your financing options, what your budget looks like, and what type of property makes the most sense. If they have investments themselves that is a bonus as they'll bring their experience to you. 

    Once you know your numbers, everything else gets a lot easier. If you need a connection to an investor friendly realtor in Pasco, I have a GREAT one who owns 30+ investments. 

    0Reply
  • Michael K GallagherBusiness Member
    Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
    2mo
    Quote from @Laura Covic:

    looking for some advice on first steps to purchasing a home and renting it out mid term lease. what would be my very first steps? my sister lives in NY and will be purchasing the home and I would be managing the rental once we've rented the home out. we are in the very beginning baby steps and very new to real estate. ive been reading all through this forum to familiarize myself with real estate language and first steps to move this forward. any help is appreciated!


     welcome, pasco county is a great market!  there is much development there, but like everywhere else it is nuanced.  you'll want to get connected with an experienced investor/investor agent in the market, and likely some local LL's too to understand the nuances of that market and managing there.  

    [email protected]614-362-2231
    0Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    2mo

    @Laura Covic feel free to reach out. I have helped many clients in your same situation in the Pasco county area. I can connect you with a few investor focused agents as well! 

    [email protected]619-456-8311
    Helm Mortgage Corp.5123 Reviews
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