Quote from @Stuart Udis:
@Nathan Frost.... 5% down can make STR especially since 5 bedrooms. Good cash flow.....Yeah just cant beat the deal. How can you possibly believe this based on your own experiences thus far in the transaction and what others, particularly what Drew who has experience in this market has told you? For goodness sake, having to remove mechanicals in between tenants means you are buying the worst of the worst assets properties imaginable.
You appear to be an investor who only cares about their spreadsheet's best possible outcome without any regard for risk. You say its good cash flow. How will you collect rent when the building's mechanicals are stolen again? STR....I can only imagine the groups of individuals who will rent this house on a short term basis. Are you going to send over a PM to remove your mechanicals in between each STR occupant if there's down periods with no occupancy? A price reduction doesn't solve the issues this property presents. It sounds to me like you're acquiring a liability.
Cameras, security system, motion lights, cage lock on hvac, etc.
They were stolen cause it was vacant and had a for sale sign.