Waco seems to be one of the most conservative, religious areas in Texas.

It's very crucial to be liquid, conservative, less leveraged and kind of bank on hard assets with debt exposure as opposed to equity exposure, full leverage, and low liquidity of the pre-Rona era.

Consider multiple exit strategies and use conservative numbers, not eraser math.

Conservative: Can use long-term rents to qualify STRs2.

Just so you know, 3 years is actually considered to be a very short time with syndications (with long-term running 7 to 10 years or more).So the way you asked your questions, only the most aggressive, nonconservative deals are going to be able to answer them (on things like selling properties after the holding period, capital being returned, properties repositioned).As a conservative investor, I try to avoid those deals like the plague...so I can't answer them.I can also say that I see thousands of deals a year.

So assuming they pay retail for the unit (they won’t), plus lets say conservatively $1000 for parts to install it (they won’t cost nearly that much), and it will take 10 man hours to install (they should be able to do much faster), that’s an imputed hourly labor cost $1120.

Already have 11 bookings and summer rates are booking at much higher than my conservative estimate.

Purchase price will be $53k if not lower, reno should be around $35k, and ARV should be at $130k being conservative.

In theory, if home appreciation is less than return of debt investment, lets say appreciation is 3% now and debt investment is now 8% conservatively, then your rate of return is higher with debt investment.

When estimating, I would want to be conservative with that with the hope of exceeding my estimate.You're approach to rent price also effects your vacancy estimate!