If you are not already working with a realtor that is well versed in STR and knows ALL of the requirements for STR, do yourself a favor and reach out to @Josh Green.

I just starting using truepeoplesearch.com as well. 

But I see a valid concern here as an investor and if that is a risk you don't want to take I think that is valid.  

No matter where you are in experience, I would love to help point you in the right direction as well as offer insight into can!

And lastly, market risks and mismanaged funds can also create major headaches, especially for those involved in lending groups.

This property has a ton of deferred maintenance but I'm purchasing it well below market value and I have a decent budget. 

They believe if they service you well, then you would never leave! 

If you're still interested, take a trip to the site once ground has been broken.The flashy marketing material for a new development is great, but don't put your money at risk for something that's likely to vaporize.

In NY, NJ, CT, PA, MA the security deposit is regulated, as well as how much you can collect at lease signing. 

Those can still return 4-5% on your money and is without really any upkeep or risk.