Local regulations may restrict this so if you decide to go that route be sure to do your research.

If you don’t really know the market, surround yourself with people that do and start learning about cap rates in that market, vacancy rates, rental growth rates, unemployment rates, employers (job generators), governmental policies and regulations, and so on.

Due to state regulations, the ridiculous cost to evict, and the ridiculous timeline to get tenants out, those investors are people that have had low risk investments or great management on high risk portfolios.  

Plumbing 5. 

FULL GUT (and then some) - re-framed some rooms so they were uniform, fixed structural and drainage issues, brand new electric, plumbing, siding, hvac, and pretty much everything else you can think of but the roof!

Roof and foundation, electric, plumbing...what are some other key things that can cost down the road?

I like the idea of unincorporated areas and did so with my first STR, but county wide regulations can wipe that strategy right off the board. 

We are aware that Blowing Rock, Boone and Banner Elk have regulations so we are hoping to find a lot that is outside of their regulations but close enough to allow STR's. 

Also, what I just learned about is HomeServe which is kind of an insurance plan that you pay a few dollars per month to insure your big-ticket items such as electrical, plumbing, heating/cooling, etc.

It cannot be stressed enough that real estate professionals should always be well-versed in their local market’s wholesaling laws, rules, and regulations to ensure that their business activities are wholly legal before making any moves of their own.The Pros Of Wholesaling Real Estate1.