This does also include my live revenue manager, which accounts for about $20,000 - so without her about $60k for pure software integrations.

. - ACH payments are received by investors on the 1st of every month, so participation in our fund is a purely passive investment vehicle that's open to accredited investors only (and like Patrick said above, accredited or not, anyone can purchase a note).As an added bonus, investors in our fund can redeem shares to purchase notes upon availability. 

It is purely people hoping/expecting that someone in the future will pay more than the current owner did.Pardon the hyperbole but:IBMCoca ColaMGMChaseDOW ChemicalWoolworthALCOAFord Being a big name did not make investing in NAZI Germany a smart or good move.Finally, can you tell me what Bitcoin is worth? 

Additional demand= 200.Based on a pure additional demand Cleburne looks like the better deal. 

Looking at pure spreadsheet math and common convention; if you pay down your mortgage you are effectively making that interest rate on your money. 

The STR, if purely an appreciation play,  is speculation to me. 

You did not specify the age of the property so it is purely speculation at this point. 

Congrats - would you ever buy in this market for pure investment purposes or do you think its mostly just a good market for a owner-use vacation home?

My allocation I mentioned above is purely what I would do based on my current financial situation.  

We've got many clients that buy them as pure rentals also. - The FHA 203(k) loan is a great way to buy a MFR as it allows repairs to be included in the purchase mortgage.