STR Newbie Introduction

[Robert Willard]

Hello forum!!  New guy here.

I recently have started looking into doing a STR in the Nashville area. I live in Ohio but I find Nashville appealing for many reasons. This would be our first investment property and I am a little nervous of course.

I find this an odd time to be getting into the industry.  While interest rates are low, prices are high and real estate is hot right now.  Throw in that travel is bad and Covid is on the rise and I find myself asking "what the hell am I thinking?"

That aside, I am wanting to create another income stream and I find STR to be as safe of an investment as possible. Assuming I find a place that appreciates and things get back to normal-ish. I gain re-occurring revenue and a very valuable asset.

So what am I missing? Any advice to a first timer looking to get into STR's? I am trying to do as much research on this as I can. It is a big decision and I want to make sure I make a smart one.