BRRR with Short Term Rentals

[John Fitch]

A friend's neighbor past away and did not have a will, so now his river house in Texas is going to get foreclosed on. I have inside information that just a year ago he had the whole interior redone including electrical & plumbing. So I am willing to bid more than most in the foreclosure auction to win it. Being on the water I'd like to try STR as an entry into real estate investing, that way I can just stop renting it out if I decide to sell and take a pretty big profit. Does anyone else use the BRRRR strategy with STRs? Or should I just take the extra cash flow and not get a mortgage. I'm hoping that after showing my wife that being a landlord is worth it we can be more aggressive in finding the next deal instead of letting the deal come to us.