Hi everyone,I’m looking for some insight from other Cape Cod landlords based on what’s happened with my property over the last year.I recently bought a duplex in Dennis Port, about a five-minute walk from the beach.

How would we accomplish building a long lasting legacy together?

Additionally, understanding the needs of your clients and providing exceptional service will help build long-lasting relationships and a stellar reputation in the industry.

Property Condition & Amenities: it’s important to, “Maintain to the Neighborhood.”Key metrics for each Property Class:Class A Properties:Tenant Pool: Majority of FICO scores 680+, no convictions/evictions in last 7 years.Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

Lehigh Valley, PA.Had one for a while, ended up converting it to long term because it wasn’t worth the extra management

When my clients are looking to wholesale and are struggling to find end buyers (Party C), I always tell them that their best resources will be Facebook Groups(which you mentioned), LinkedIn, and local REIAs.The key is to build and maintain long-lasting relationships with both avid rehabbers and renters, as they are both viable end buyers.

That way I have extra funds to deduct for damage and late fees for that last month of missed rent. 

In this situation, I actually know the company to a degree, and I know they have come under 3 very strong stress factors in the last year. 

.- Turnkey, this will work best on long term investment.

It’s been sitting vacant ever since.My property manager keeps telling me it’s harder to fill units in the winter season (which I get), but I'm wondering if I’m missing an opportunity here.The property is literally a 1-minute drive—or a 12-minute walk—from a major hospital, and I’m starting to wonder if it might perform much better as a mid-term rental (travel nurses, short medical contracts, etc.).Right now the long-term rent is $640/mo, but MTR data in the area suggests $1,800–$2,000/mo is realistic for furnished month-to-month stays.Since I’m out of state, I’m curious:Is anyone here successfully running an MTR from out of state?