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Self-Evaluation (by DJ [VA]) May 21, 2023 6:46 PM
       Self-Evaluation (by plenty [MO]) May 21, 2023 6:56 PM
       Self-Evaluation (by 6x6 [TN]) May 21, 2023 7:53 PM
       Self-Evaluation (by RB [TN]) May 21, 2023 8:48 PM
       Self-Evaluation (by MikeA [TX]) May 21, 2023 9:34 PM
       Self-Evaluation (by Oreo [WI]) May 22, 2023 8:20 AM
       Self-Evaluation (by GKARL [PA]) May 22, 2023 3:56 PM

Self-Evaluation (by DJ [VA]) Posted on: May 21, 2023 6:46 PM

Just sharing:

A couple / few days ago, I was reviewing & deleting emails where people interested in my vacancy had totally ignored information & directions in the ads.

I suddenly realized I was feeling the same way I did before leaving my last paycheck job! - discouraged, frustrated, (maybe even a bit angry too?). I was basically dreading / hating dealing with it. Oh, no! Heck no - that's NOT how I want to feel (again) when I wake up every day.

Some further contemplation told me I really enjoy the mid-term rental I have. A studio "in-law" space attached to my own house, that I rent to traveling medical professionals - and this summer to a NASA intern.

So... I believe I will sell the two houses I have mentioned before - and hopefully can find something to 1031 into that can be used for mid-term rentals. I know people like my studio because it is separate from my house. They like their privacy & private bathroom. They also (especially the last one raved about it) the sleep number bed.

Anyway, I have / am reviewed zoning rules for Single family vs duplex, unrelated occupants, etc. - and I'm looking for a house that will specifically work for this purpose. I'm thinking a one-story 3/1 or 3/1.5 with a garage would be perfect. The third bedroom could be changed to a bath or to expand the half bath, so each of the 2 who share the main house have a private bath (end up with a 2/2). The garage can be converted to living space for a separate space third person. An addition on the back or a room that can be accessed from both units for a shared laundry.

Anyway, the wheels in my head are turning. And, I'd still have "plan B" to sell the SFH if/when I want to.

I'm wondering how I may be able to allow a pet, also. Maybe divide up the yard?

We'll see.....

Self-Evaluation (by plenty [MO]) Posted on: May 21, 2023 6:56 PM

It's all good. Wherever the path takes you, there you'll be! Good luck on the switch.

Self-Evaluation (by 6x6 [TN]) Posted on: May 21, 2023 7:53 PM

I have been doing a lot of self evaluation lately as scary as that is.

I have been feeling sort of the same way but I do not wish for mid term rentals.

I wish that I had followed my passion and have been considering it as I think that is the biggest part of my problem.

Follow your passion. I wish you well in doing so. You are a wise lady.

Self-Evaluation (by RB [TN]) Posted on: May 21, 2023 8:48 PM

Take a couple aspirins.

Self-Evaluation (by MikeA [TX]) Posted on: May 21, 2023 9:34 PM

Every job has those days, even the rental business. It may be time for a couple of days off to unwind. I wouldn't be too quick to pull the plug, I often regret those life changing decisions that I do without much thought. Give it a little time and see if that is what you really want to do. Be sure to be honest in your assessment, there are downsides to mid term as well.

Self-Evaluation (by Oreo [WI]) Posted on: May 22, 2023 8:20 AM

DJ: I've been feeling discouraged after a rough year of a couple PITAs. We're handling it by taking time off this summer with that unit. Adding some nice touches at our own pace and not racing to fill it. We also decided not to rent out our lower unit where where we have lived for decades. Doing that has really helped. Hubby was not on board with that at first, but when I mentioned filling it again once he protested. We both see the benefit.

Even if you can't do that indefinitely it might benefit you to just leave something open for a month. --75.11.xx.xx

Self-Evaluation (by GKARL [PA]) Posted on: May 22, 2023 3:56 PM

I'm considering mid term rentals myself. I've discovered that smaller units work much better. A 3/1 is harder to rent unless you're working with one of those insurance placement firms. Most medical professionals are traveling alone and not with their families. There's a glut of these sort of rentals in my area and many folks are renting these at long term rates which is effectively less than LTRs considering that the LL is often paying for utilities. Most of the glut in my area are the bigger SFH's. Ideal size for MTR are studios like you have and one and two bedroom apartments.

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