Some deals I close after 20 hours of work and some deals I close after 200 hours of work. 

Most will tell you STRs are a lot of work and I won't disagree with that if you don't know what you are doing.I will say though, we have been able to put together some rock-solid systems and processes to streamline that to minimize the work and maximize the returns.My business partner and I are actually writing a chapter in a new book that is coming out this year about unique stays.

I post this because, in my area, the numbers just don't work, and worse, rents are under increasing pricing pressure.

Hi Kevin,I'm a big fan of buying with cash and my thought process is quite contrary to everyone else's.Cash is KingCashflow is QueenLeverage can be a peasant lolOne can retire investing in Toledo with $1m in cash.Off-course, this all depends on how many villages you need to feed 🤓I have too many "villagers" on my back so it's a bit of a different story for me.Sub $100,000 markets like Toledo require volume to work and to be worth the risk if you are looking to buy and hold.Not much growth potential long term so I would consider it a strict cashflow play.Start slow and small and you can always scale up once you learn the market.Or call it quits and exit if you decide it's not for you.IMO, leverage should only be used to scale a portfolio and only after you have immersed yourself enough in a specific market.And only once you have decided that you want to stick around in that specific market and invest in it long term.Over the years, I've witnessed many folks use leverage and attempt BRRRR out of state only to fall short and say "the market sucks and it doesn't work".Nothing works unless you make it work and a market like Toledo can work better than any other market I know from a cashflow perspective.I've been investing since 2014 and flipped hundreds along with currently managing 400 SFH.Only this year have I started buying small multifamily properties.It's an adjustment and a different animal but let's just say it's in the same breed of animal lolImmerse yourself in a specific market and become an "expert" on the numbers in that market.Find off market deals, negotiate hard, buy with cash and buy quickly.You make money when you buy and not when you sell so you must buy cheap.There are many ways to skin a cat mate and this is how I get my fur lolWishing you much success

On average, I doubt that the agents who made $$ on my transactions put in more than 12 hours of work.  And

There are markets in CA that can work and will require a different strategy than markets outside of CA like Reno, Nevada or the Midwest. 

There will be more work and headaches but the property will be more advantageous in regards to deprecation, principal pay down, appreciation over the next 10 years. 

2) Trying to get a better price with a fast closing.3) Property needs work and can't get a mortgage on it.

If you're going to get into REI just start with the hard work and grow it organically, you know like a side job.

It seems like a contractor could specialize in doing this kind of work and maybe streamline the process a bit.