It really depends on the investor, their comfort level and goals. 

Anywhere there's food, warmth or comfort there's vermin.

Start running numbers on potential deals to get more comfortable, and build out your team—like a CPA, property manager, and lenders.

Obviously if I intend to have a top performing STR in this market, my buy box will allow for a much higher max purchase price, but I wouldn't feel comfortable with shooting for the max if there aren't clear ways to beat these competing properties.

I’ve visited every other property I’ve considered in the past, so this is uncharted territory for me, and it feels a little out of my comfort zone.I’m considering putting it under contract sight unseen to lock it up, but I don’t want to make a rookie mistake here.I'm looking for some advice here.

But the level of negative cash flow that you're talking about is quite high and it sounds like it's not something you're comfortable with and thus should look for something else.

For those that do not feel comfortable enough with excel to build out a tool on your own, I would suggest starting by taking excel courses focused on dynamic real estate modeling.

Get out of your comfort zone.

I joined this forum to connect with others, learn from those who’ve been in my shoes, and maybe even find people to partner with in the future.If you’ve got any tips, especially around raising capital or structuring your first deal, I’d love to hear them!

You can be sure they will continue to negotiate for, strategize and advise themselves.If the laws are similar where you are, you should consider if you want someone doing those things for you, and whether you are comfortable going toe-to-toe alone with a licensed professional on a $1.25 million purchase.