If they appeal offer some cash for keys.

I think the key is to find the ones that actually have a strong investor/commercial background.

Each BR even has its own mailbox and key. 

It can be done but each situation is specific and would be underwritten to see the risk and what the exit strategy is. thats the key with shorter term loans - understanding what the borrowers exit is.

Either way, clear communication with the guests about who’s managing the property is key to keeping reviews and satisfaction high.Permit Timing:The permit delay makes things tougher, but if you buy the furniture and keep future bookings, you might be able to use that time to update décor piece by piece without fully shutting down operations.

Educating yourself with BP is key and putting together a team is key. 

The key is to interview your PM and make sure whoever your direct PM will be is on-point. 

But the real key is to find motivated sellers.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

From experience, finding a knowledgeable accountant is key for handling taxes effectively, especially when splitting expenses, claiming deductions, and managing depreciation.