Most people don't sell an STR that is making them a ton of money so odds are it could look better, although they could be selling it for other reasons.

I think demand is decent.If you're looking in a flood zone you'll definitely want to understand the FEMA 50% rule.

What I don’t understand, and help me on this, is why someone would simply want to purchase the Mortgage/DOT without the note. 

Whichever direction you go, be sure to work with folks who understand this and gives you the confidence to take reasonable action - I'd personally take an okay investment and weather the storm for a few years that will eventually perform well, and do that each year - rather than take 3 years to wait for the best deal possible.

Planning for flexibility with frequent moves and understanding property management will set you up for success when you start investing in 2026.Good luck!

I understand your concept, but it appears the terms, lender and investors, are being used interchangeably.

I've never understood those that can't understand the critics of STRs.

The property is located in a mid-size city with several attractions nearby.I understand that management fees can vary by location, but this property management company charges 20%.

I would assume any halfway intelligent human being would understand we mean "shut and lock" but maybe I assume too much. 

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.