It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

Ok, but I mean is it against the rules?

I use this and share with my team (i.e) drone photographers, VAs, reatlors, partners, etc.Zoho Forms, I use this to collect info from leads, buyers, etc.Zoho Desk, this is a ticketing where all inquires go to and since it integrates with Zoho Forms, it creates a ticket within Zoho Desk + New Lead within Zoho.Zoho Cliq, similar to slack, I communicate with my team with this software.

Is there a way to access the additional features without creating a new Stessa account through the BiggerPockets link? 

Brad's group is based in Dallas, but his students live in and are buying in many states, including Arizona, so if you think you might benefit from such a program, don't rule it out based on your location alone. 

Not all lenders are created equal. 

From my understanding, as long as you intend on doing a STR when you close, there are no rules against changing your strategy after closing, especially if you find that something else is more profitable.So in our case, the lender determined an STR would bring in ~$3500/month (with all of their conservative factors), but now that we operate it as a huge 3300 sqft Co-Living property, it actually brings in $7000/month.

The bathrooms received a luxury makeover with marble countertops and custom fixtures, while I also reconfigured the layout to create a more open and inviting space.

As with all regions, the Oregon Coasts' counties and cities are tightening their rules (and quantities of allowable vacation rentals) and there are a few adjustments to last year's regulatory landscape.

He and I created an LLC for NC a few years ago when we were thinking of buying a rental property there.