New Investor, looking to STR an inherited property

New to Real Estate · Detroit · Member since 2023 · 1 post · 3 votes

Greetings, I've been saving and trying to prepare for this opportunity as much as possible, but I've recently inherited a family property in the mountains of Southwest VA that we are currently renovating before listing it as an STR. I would love to connect with someone who has experience in starting an STR business from 1 property and expanded successfully or if anyone has any resource recommendations I would tremendously appreciate it. Thank you!

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Bryce JamisonPro Member

Rental Property Investor · Mebane, NC · Member since 2015 · 494 posts · 439 votes

5mo

Highly recommend Short-Term Rental Long-Term Wealth by Avery Carl. It's in the BP bookstore for 15 bucks. It's the main playbook my wife and I used to start our coastal STR a few years ago.

Every now and then you'll see Avery or her husband Luke on the BP podcast. The have firsthand experience with mountain properties having some in the Smoky Mountain region of Tennessee.

Robuilt on YouTube is also a tremendous resource. I wouldn't really call him an STR guru. He's more of a STR savant. He's doing things in the space I never dreamed of with Funkit Interiors.

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Bryce JamisonPro Member
Rental Property Investor · Mebane, NC · Member since 2015 · 494 posts · 439 votes
5mo
Highly recommend Short-Term Rental Long-Term Wealth by Avery Carl. It's in the BP bookstore for 15 bucks. It's the main playbook my wife and I used to start our coastal STR a few years ago.
Every now and then you'll see Avery or her husband Luke on the BP podcast. The have firsthand experience with mountain properties having some in the Smoky Mountain region of Tennessee.
Robuilt on YouTube is also a tremendous resource. I wouldn't really call him an STR guru. He's more of a STR savant. He's doing things in the space I never dreamed of with Funkit Interiors.
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Jack R.
Flipper/Rehabber · Las Vegas, NV · Member since 2014 · 124 posts · 35 votes
5mo
STOP! Congratulations on getting money from heaven! That's what I've always viewed inheritance to be. Hopefully it will give you a great start to your dreams. But you should stop everything and consider this.

Before you spend another dollar, pause and get advice from someone who has actually operated STRs profitably.

If you inherited the property, there may be equity available. That does not automatically mean you should borrow against it, but it does mean you should understand all your financing options before draining your savings on renovations.

The bigger issue is this: don’t renovate blindly. STRs are a business, not just a furnished house. You need to know local demand, nightly rates, seasonality, cleaning costs, management costs, permits, insurance, furnishing budget, and projected cash flow before you keep spending.

Find someone experienced in STRs who will look at the deal with you one-on-one. Not a paid guru. A real operator. Get the numbers right first, then renovate to the business plan.
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John McKerrow
Member since 2026 · 5 posts · 4 votes
4mo
Hey @Ben Fleet, congrats on the inheritance and the renovation, that's a great head start! I'm in a really similar spot. I own land in Bedford County, and I'm building an off-grid STR cabin on it as my first asset. Southwest VA mountain properties and the Blue Ridge market in general seem really strong for STR right now, so I think you're in a great position.

Would love to compare notes as we both get our first STRs off the ground. Feel free to connect!
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Vijay FriedmanBusiness Member
Miami, FL · Member since 2026 · 766 posts · 123 votes
4mo
Quote from @Ben Fleet:

Greetings, I've been saving and trying to prepare for this opportunity as much as possible, but I've recently inherited a family property in the mountains of Southwest VA that we are currently renovating before listing it as an STR. I would love to connect with someone who has experience in starting an STR business from 1 property and expanded successfully or if anyone has any resource recommendations I would tremendously appreciate it. Thank you!

@Ben Fleet

congrats on the inherited property. For an STR conversion, I'd look at renovation budget, local STR rules, insurance, projected rental income, and exit strategy early. If you plan to finance the rehab or refinance after it's STR-ready, those numbers will matter a lot.

786-656-0387
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Chizoba Ani
Virtual Assistant · Abuja, Nigeria | Remote · Member since 2026 · 75 posts · 28 votes
4mo
Congratulations! I suggest you join Facebook local group to learn more.....
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Account Closed
Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2025 · 25 posts · 3 votes
2mo
Quote from @Ben Fleet:

Greetings, I've been saving and trying to prepare for this opportunity as much as possible, but I've recently inherited a family property in the mountains of Southwest VA that we are currently renovating before listing it as an STR. I would love to connect with someone who has experience in starting an STR business from 1 property and expanded successfully or if anyone has any resource recommendations I would tremendously appreciate it. Thank you!

Welcome to BiggerPockets, @Ben Fleet! Turning a family property into a short term rental sounds like an exciting first project. Starting with one property gives you a good chance to learn the day to day side before growing. I’m Diana Khan, a Maryland attorney, broker, and investor, and I’m always glad to connect with others investing across the DMV.

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- Diana KhanPro Member
  Attorney · 10451 Mill Run Cir #755 Owings Mills, MD 21117 · Member since 2024 · 555 posts · 195 votes
  2mo
  Quote from @Account Closed:
  
  Quote from @Ben Fleet:
  
  Greetings, I've been saving and trying to prepare for this opportunity as much as possible, but I've recently inherited a family property in the mountains of Southwest VA that we are currently renovating before listing it as an STR. I would love to connect with someone who has experience in starting an STR business from 1 property and expanded successfully or if anyone has any resource recommendations I would tremendously appreciate it. Thank you!
  
  Welcome to BiggerPockets, @Ben Fleet! Turning a family property into a short term rental sounds like an exciting first project. Starting with one property gives you a good chance to learn the day to day side before growing. I’m Diana Khan, a Maryland attorney, broker, and investor, and I’m always glad to connect with others investing across the DMV.
  
  Hi @Ben Fleet, just a quick note. We created another BiggerPockets account because we did not realize this original account was still active. That newer account has now been closed, and I’ll be using this account moving forward. I’m still happy to connect with you here.
  
  [email protected]240-266-0291
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Mohammed Rahman
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
2mo
Hey Ben,
One thing I'd recommend is making sure you understand the local STR regulations before you get too far into the renovation. Every market is different, and some areas have permitting, occupancy, or zoning requirements that can impact your plans.

I'd also encourage you to build your numbers around conservative assumptions. It's easy to look at the highest-performing Airbnb listings and assume similar occupancy, but I'd rather be pleasantly surprised than disappointed. Factor in vacancy, cleaning costs, maintenance, furnishings, platform fees, and reserves so you know what the property needs to do to be successful.

Beyond that, I think the best thing you can do is connect with people who are actively operating STRs in that part of Virginia. They'll have insights on seasonality, pricing, guest expectations, and local vendors that you just can't get from a course or YouTube video.
Good luck! Feel free to reach out- my DMs are always open.
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