Unfortunately, due to all the turmoil in domestically and around the world, interest rates went up about 0.25%.

A good realtor can generally help you win a bidding war with a higher earnest money and a fast close with no inspection if that was the case.Under the current circumstance you could pull out just enough cash that will allow the home to cash flow based on a LTR.

You unfortunately have no guarantee they would pay just based off bank statements.

While it's a great spot with a ton of tourism unfortunately, it seems the hotels view STR's as competition and have helped to encourage the strict regulations.

Ultimately, I sold the property for about break-even because of personal circumstances that changed in my life.

Hi Rodney, unfortunately there is not an AirDNA equivalent for MTRs yet. 

Unfortunately, many regulations, such as design standards, go far beyond important safety concerns, and impose costly mandates on developers that drive housing costs higher.

I think personal circumstances are ready, and I just need to learn and get the local knowledge you mention.

When it is a new development, it isn't uncommon to see someone use the date the Certificate of Occupancy was issued - perhaps that marks the "ready", but it still might not be "available".So you can certainly have a property in service in a given year, but not actually have any rental income - but certainly your facts and circumstances are much better if you can actually get a tenant in there, that (should) shore up your defense on that question ever coming up unless you are playing weird games just to get a given in service date for tax purposes.

Unfortunately, if you are hasty and/or don't underwrite your first deal properly, it could become an expensive mistake.Reach out to me to chat if need more guidance...