For anyone that is looking at developing or purchasing an STR in Packwood, WA I would take a peek at the numbers that are on the rental sites and the amount of bookings. 

I’ve been reading books and listening to BP for the last 2 years but I’m green ya know.

And because of that, they each got more than 10 bookings within the first two days.

We also use Rental Guardian and add the charge to each booking so essentially the guest is paying for their own damage insurance.

Sounds like it could be a decent LTR situation, but you answered my concern on if a STR would really stay booked enough to justify a purchase.

Hired part time admin assistant and 1/4 time services of book keeping professional. 

Our total invested into this property is 1.14 million among 10 investors (this amount does include a 250k seller carry loan to be paid off by the 2 of the investors over 5 years).This property was up and running starting December 15 and we have had it pretty booked since then.  

Does anyone have experience with that kind of transaction?

I am just saying what i have done not necessarily that would fit your needs and certainly as a Anderson client you can get their opinion, book a consultation or  ask your question on tax-tuesday  webinars. 

You can find some diamonds in the rough don't get me wrong but if you aren't experienced enough to see red flags in the property/ transaction they can be costly. 4.