While you network, trade sweat equity for mentorship—run comps, manage scope, or do site walks for a flipper to earn reps before your first contract.

The trade-off is you’ll get better rates with a conventional loan but lose some of the liability protection the LLC offers.

Could be a mindset shift on my side that I need to have with higher ADR / Lower occ but I’m still top 10% here so hoping that would result in the same outcome.

Would love to trade notes on what’s working (and what’s not) in different coastal or vacation markets.HERE'S THE MATH ON THE SHORT TERM RENTAL BUSINESS FOR A 1-BEDROOM OCEANFRONT CONDO: Disclaimer: All information given is meant to be educational.

The only way this is not selling a security is if every person involved has responsibilities and authority over the outcome.

I just finished a CCIM-style breakdown of a 10-unit multifamily near Myrtle Beach that recently traded.

You paid extra for less cash flow, even if the long-term CapEx benefits were obvious.But when new construction trades at a discount — and comes with a 10-year roof, new mechanicals, energy efficiency, and a builder warranty — the math changes.Lower maintenance, lower vacancy, and predictable CapEx are now being offered at resale pricing or better.That is a different equation than anything we saw in 2015–2023.What I’m seeing in Reno, NV• In 2021, new builds typically sold 12–15% above resales• Today, builders are offering $15K–$40K in incentives plus below-market financing• Several new homes now underwrite better than 1980s resales, even before factoring depreciationIf you only pull comps from the MLS, you won’t see these concessions because they aren’t reflected in list prices.

I recommend a few bids per trade to compare numbers.

Before making a commitment — the absolute best step for you is to understand the actual numbers and the real range of scenarios.You need to:• look at current NOI• model pro-forma NOI after deferred maintenance is handled• compare a seller-note vs direct buy vs trust transfer• realistically estimate capital improvements realistically for 8-units in Philly • assess the operational plan (self manage vs PM)• and lay out the possible outcomes for you specifically (tax exposure + risk + time cost)do this BEFORE saying yes or no — otherwise you might commit to something that becomes a burden or lose out on a great opportunityI know people capable of this type of scenario modeling in Philly if you want some connections. 

Obviously there's a trade off; the stricter you are the more likely that wafflers and people searching for deals are not going to select your property.