Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.

It sounds great, but it's all just words at this point - speaking from the experience as both an operator, broker, as well as someone that has experimented first hand with different tools. 

If you speak to a CPA who understands remotely what I mentioned then you're in good hands.

And after speaking with a lot of folks at BPCON2024 I’m realizing this is a niche that some of you in the community are very good at, but most of you, like me, know this is a need but don’t have a good solution. 

Ask to speak with some of their current owners and current/former tenants.

I do believe that your HELOC will be a great source of capital to start your first deal but I wouldn't use it as a down payment (Speaking from my own personal experience).

@Jessica Swanson, I can't speak to Texas specifically.

If you are going to go with a rehab loan, make sure to speak to people who’ve gone through it. 

Hey there, you should Speak to @Joseph Bui.

The most likely outcome here....just speaking from experience.