However, to enter another state's market, you need a local presence, which requires some investment in relocation. 

Need a competent Attorney who is well versed and practices include debt collection law, and real estate foreclosures in the State of NC ?

I am looking for some best practices regarding the lease.Do most STR require 30% down and final payment before the stay? 

Quote from @Ying Tang: Curious how others handle this in practice. 

Curious if anyone has used this tool and what your best practices with it are?

If it’s an owner-occupant market at that price point, are you accounting for the likely 5–6% seller assist and the practical challenges of repair requests?

These loans are typically underwritten on the property and exit strategy, not your W-2, and credit requirements are often more flexible than people expect.A practical approach I see work often:  • Wholesale on the side to sharpen skills and build cash  • Meanwhile, get pre-aligned with a lender so you know your numbers  • When the right BRRR deal shows up, you’re ready to act instead of starting from scratchThe biggest mistake isn’t choosing wholesaling vs.

.⦿ Gather forms and documents: rental application, acceptance letter, deposit receipt and deposit to hold, denial letter and adverse action letter, lease agreement, rules and regulations, pet addendum, move in and move out checklist, lead-based paint pamphlet, and disclosure and certification, other state required forms, legal notice to pay or vacate, legal notice to comply with lease, notice to enter property, move out instructions, disposition of deposits⦿ Create a policy binder: company mission and values, company managers/owners/employees, telephone standards (hours, expectations, etc), list of all properties, addresses, mortgage companies, and insurance companies, the application process, minimum standards for tenant approval, tenant screening process, rental collection practices, rent extension process and late fees, security deposit process, basic lease terms, pet policy, smoking policy, vacating tenant process, turnover process⦿ Get to know the neighbors⦿ Set up bookkeepingFair Housing Laws⦿ Simply asking the age of children can get you into hot water when screening for or renting out a property.

My suggestion is you have a conversation with your tenant to see if they are open to relocating only if the market rent is significantly higher than what they are paying.

I’m a foreigner who had to relocate from Ukraine to the US a year ago.