As mentioned in a previous comment, you don't want a cheap appraisal/inspection.

This is the answer, but it got buried in all the comments

So is your comment about passive investors wanting ROI that are only achievable (on a SUSTAINABLE basis, and without undo risk) by knowledgable, experienced active investors "in the game".  

Unlike your first comments, I do not agree with these. #1) We have had STRs since 1999.  

Just like the last comment, the list of problems we have is just too long to add here, but from the bad screening of the tenant to the work order that you pay and NEVER get done, you will need to inspect your property every time "they complete a work order." 

Well, in addition to a couple of other comments, that helps.

Not going to comment on high or low because a lot of people underestimate the time and work that goes into a loan, underwriting, and tracking docs. etc.

I see allot of good points being made in these comments.

@Ashley Guerra - I live and invest outside of Philadelphia, so I can't comment on your specific markets in central and south Jersey, but can provide my perspective on things to think about to help your decision.1) I would consider speaking to 3-5 people/investors in each market you are considering (central and south Jersey) to listen to their thoughts on pros/cons of the area and how they invest.

Or offering personalized consulting, deal analysis, or portfolio review for an additional fee (as others are doing today).Your comment makes me wonder if we have a "chicken and egg" problem in the note-investing market.