The STR's that are going to do well are the ones that are run well and deliver an exceptional stay.

I called the customer service and they suggested me to activate instant booking.

She texted me later Monday night to say she delivered her report and they should have it Tuesday morning.

If you are young and have not collected kids, dogs, and commitments, I'd suggest putting your head down, delaying gratification, working your a$$ off (get a second job, drive for uber, deliver pizzas, buy a pressure washer and knock on doors asking to pressure wash driveways, etc.), living off of next to nothing, and looking up in 12 months to re-evaluate.

This is why some houses don't go off the market instantly, because the diligence fee isn't nominal.Most agents will push you to put up a considerable amount, close to 1% for the starter houses and some want you to try to do 5% for the high-end areas.

There are of course excellent service providers that truly aim to deliver value and investors just need to be discerning. 

Also if you supply the materials then you take the liability of getting them delivered on time.

If so, it will be tough to find deals that can deliver a 6% Preferred Return, much less anything beyond that.

Many OOS investors set themselves up for failure because they don't invest the time to ACTUALLY understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.Class A is relatively easy to manage, can even be DIY remote managed from another state.

After categorizing all 2023 transactions correctly, I went back to QuickBooks 2022 to compare and was instantly alarmed.