Any STR / vacation operators who have raised outside capital?

[Allen Meringolo]

Hi - my name is Allen Meringolo; I am apart of a group called Pothos Capital that owns and operates STRs in southern White Mountains of NH. My group is syndicating money for our next deal.  

Has anyone else here syndicated for STR? If so, a few questions for you:

1. What is your overall strategy? Buy and hold?  
2. How do you think about your exit strategy if you have one? Who is buying your property?
3. How do you think about regulatory risk?
4. Do you go big on renovations and value add? Say bigger than you might on a traditional MFH investment? 

In general, would love to connect with anyone who has gone through this process. Thanks in advance. 

[John Underwood]

I prefer to do the work myself and not split the profits with a group.