This will be my first time purchasing an STR, and I have no prior experience.

Address Your Financial ProfileBridge the Revenue Gap: Highlight your equity in the duplex and use your sale proceeds to demonstrate “skin in the game.”Partner to Compensate Experience: A financially strong and experienced partner can help offset your limited track record.Focus on the Land Deal: Secure the land at a good price, as it’s a crucial step in gaining credibility and attracting partners.Final ThoughtsYou’re entering an exciting and impactful space in real estate development.

Has anyone had a similar experience?

FICO, experience, and LTV are also factors but this is the basis of the loan.

My friend all it takes is a bad apple. if you are asking, you are lucky you have not gone through a bad experience-Evicion. 

I will say from personal experience, I think that because it is a paid platform that people take it more seriously and are more active in the community.

Since New Jersey is very tenant friendly I wanted to know if anyone has had a successful experience with actually getting your tenant out within a few months?

Those chasing the last 5yrs experience are going to be rather sad at what the next 5yrs hold for them I think.

Working with a property manager will give you a lot of hands-on experience in the day-to-day of managing properties. 

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.