To build momentum, I’d start small, assemble a reliable local team, and ensure the properties I invest in have strong fundamentals.

As we’re beginning to get a grasp on the scale of the challenges ahead we wanted to highlight a few areas of note and concern that is already influencing the local and national real estate market.

Thanks Sarah, I don’t see much house hacking going on in Essex or Dundalk in terms of listings on Zillow or FB so my concern would be finding professional adult roommates that want to house share in that area. i’ve been following a lot of the midterm rental groups in Facebook and the consensus is that contracts have decreased significantly and hospitals are using more local labor pools.

My only recommendation is you go with someone local to where you are.

Howdy,I haven't decided if we are gonna manage the property or hire a local area property manager yet.

Hopefully, this is a useful example of what’s achievable with out-of-state investing, even with no local connections. 

I have a local handyman that helped me hired junk removal company and pest control for the roaches.

These are by far the least amount passive so do your due diligence on understanding how to run a successful STR business and researching local laws on allowing STRs.2.

I joined a few female-centric entrepreneur groups and investor groups, this really helped motivate me to ask more questions and gain both local and online support.

Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify.