This is a pretty standard ACH hold period. 

Because it's standard in most contracts to have an inspection period I make my offers based on the photo and the asking price from the ARV.

Relatively, this period is slower for sellers, which creates a solid opportunity for you to explore multiple properties/options and maybe even negotiate for a deal below market value.

for the asset value, STRs have never had lower income (no counting any Covid lockdown periods).  

At those costs it would take me about 12 years to break even if there were no other expenses for either unit during that 12 year period.

This is the most challenging period outside Covid shutdown periods.  

when I think back on customers to avoid.we had a period in the SF Bay Area were a lot of folks came over from IRan after the fall of the shah and I was new or newer..

I ran the numbers for any investment below 250k and for the 3 year hold period after 1% annual management fee and 1.25% startup fee, and the profit split, comes to 10% compounded return or an 11.2% avg annual return on a 1.33 EQM on 3 years.

There is low vacancy rates, guaranteed rent, and they stay for a longer period.

Thats another key factor to be able to pull out your initial capital and the next homes DP in a shorter period of time.