As the investor gains experience, they are not only able to more successfully foresee the “bumps” along the way, able to handle recessions, temporary negative cash flow, unforeseen capital expenditures without panicking, but will also recognize the opportunities necessary to turn a loss into a break even.

It is too nuanced and requires capital, experience & focus.  

I’d greatly appreciate any insights or experiences you could share on this topic.Thank you again for your help! 

In efforts to get more experience with IOS, we are seeking a financial partner that potentially has experience with this asset class. 

Only experience is renting out my first home in Springfield, VA when I was in the Navy.

You can also expect increasing HOA fees, and there may be some problems renting a property inside a difficult.You don't have any experience, prices are at an all-time high, and rates are also high. 

Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate. 

Secondly, you'll definitely want to confirm with a tax strategist with experience in the STR space to confirm if the setup you describe will pass as an STR with the IRS. 

Anyone else have experience with this?

In my experience, cost segregation studies are a lot less than $10-15k especially for smaller properties (6 units and below).