Hey there! I need some advice on how to analyze if a property is worth purchasing specifically for iMTR. Quick Specs: 1900sq ft single-story: 3/2 with 4th bed option (currently used as an office); fenced yard (we would allow pets); it's in a highly sought-after suburb of Dallas (TX) proper and has highly rated schools. The current list price is $485k. It's been on the market for 3 months. We know the owners which is fun. The asking price feels outside my realm of comfort given my (very limited) experience with real estate investing. BUT if iMTRs are working in Dallas, it may be worth the risk of the higher price given location/specs of the house. I am trying to do a preliminary analysis to see if the numbers would even work before I pitch it friends that would potentially financially partner with us as we can't afford the up-front out-of-pocket costs independently. Maybe TMI, but I believe the more info the better!! We have another furnished long-term rental that is leased to a non-profit that cash flows $200/mth right now. Which feels like a blessing because so many people are struggling to make numbers work on their rentals. I don't know if the neighborhood is quite the right fit for iMTRs though. Any thoughts or advice?? Thank you!!

Happy Monday! I've been absent for a bit while managing some big projects and hoping to get more active soon. In the meantime, I want to share with you some wins for encouragement. Our first and current family has been in place since June 28. They originally booked for 32 days. Then they extended through the end of September. The booking requests have been limited while it's been actively booked. However, we have received two requests in just the last few days for bookings to begin on October 1. Of course, we reached out to our current family as we do not want to displace them. They are going to extend through October. Woohoo!!! One of the booking requests is a temporary worker looking for a 3 month stay and the other was an insurance family that is being displaced from their current iMTR. Going iMTR was the BEST decision we could have made!!! It's been challenging at times and a great experience overall. So if you are on the fence or feeling nervous, just GO FOR IT!