So I'll probably try to buy a used building that fits my needs as soon as one becomes available in the area we prefer.As an Architect that works in NYC and the surrounding areas, I think this is a prudent choice.

so I get the value engineering these homes to fit the market and competition.

I am glad someone brought these questions up because it is a good reminder as we head into this year to think through your exits before you buy and see how each outcome fits with your overall financial and tax picture.

The longer a project drags, the more pressure interest, insurance, and carrying costs put on your numbers — especially when capital is limited.If you’re open to it, I’m always happy to help think through which types of properties make the most sense for a first flip, walk through comps in different Houston pockets, and help you find a deal that fits both your capital constraints and your risk tolerance.

In those cases, even honest disclosure doesn’t always prevent friction.If this were my asset, I’d run it like this:Model both scenarios on paper: discounted STR vs. clean MTR/LTR (including turnover, refunds, review risk, and time cost).If STR revenue still meaningfully beats MTR after a realistic discount, try STR with very bold disclosure and optional perks (late checkout, noise machines, mid-stay cleaning, etc.).If the numbers come out close, I’d lean MTR during construction—traveling professionals, insurance housing, or corporate stays tend to be more tolerant of daytime activity and bring less operational stress.Bottom line: this isn’t really a “construction problem”—it’s a guest-fit and risk-pricing problem.

So I knew that was not a fit for me. 

If you’re still evaluating whether your current setup is the right long-term fit, I’d be happy to share how we typically approach delinquency prevention, owner reporting cadence, and oversight of maintenance when the manager is also acting as GC.Either way, I hope the building is trending in a better direction now — you’ve clearly done a lot of the hard work already.

I’m still in the process of building my team and narrowing down my first market, but this sounds like a great fit for what I’m trying to do.Thanks again for sharing your experience and insight — I really appreciate it. 

Reuben, I like Joshua’s perspective here, especially the part about not boxing yourself in on the first deal.From both a tax and practical standpoint, house hacking is often a great place to start, and it fits well with the areas you’re looking in, especially since it already aligns with your lifestyle.

"High" cash flow is subjective but there are plenty of markets in this area that can fit the bill if you are flexible on how your cash is used.