Following Avery’s excellent STR episode, we decided to try something new and venture into an STR in the smokies.

@Jonathan Twombly @Ernesto Hernandez Two excellent posts, I will be reviewing the recommended data sources.

Create an Excel Spreadsheet of these facts.

Both buyers are new college graduates, one with a masters degree with excellent credit, and both have signed employment contracts with the local school districts.

I posted my rental online and received this from a interested renter out of state:"Good morning we are family of 3 and we are living in north Carolina and we are going to buy a deli in ny so I willing to pay 6 months and advance also I can't provide you with sufficient found in my bank account".I ask them some more questions regarding employment, credit and references and they respond with,"I do have a great credit, I also can provide reference which is excellent, we are not working at the moment because we are moving from NC to NY and we are going to buy a business in NY, and also I can provide you proof that we have more than $200,000 in our bank accounts, that's why we are able to pay up to 6 month of rents ahead."

I am new to real estate and have so much to learn.my goal is to excel in the business because I plan on doing this full time to help provide for my family .

Everyone selling is 'proud', you have to allow them to win negotiation, save face, and still provide an excellent service.

Also, this is an excellent technique to purchase those back end "tails" in a self directed IRA when the partial period has ended, so your IRA gets the income at the back end and virtually for free. 

@Ryan Stahr This was excellent advice and information, thank you.

Market rent on the properties I am looking at is <$1200, so option 2 and 3 cost about the same per month for the first year.The big company is easy to work with, responds quickly, and has excellent reviews.