My primary focus is on maximizing cash flow.Does anyone has experience with STRs in Aspen, I’d love to hear your advice or insights!

You should work with a Qualified Intermediary that is going to focus on administering the 1031 Exchange and not trying to get paid on the back end. 

When planning a home renovation, it's easy to focus on the excitement of picking out tiles, colors, and layouts—but there’s a lot happening behind the walls and floors that often gets overlooked. 

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Written policies are necessary when you add employees to aid with training or enforcement of standards.I would focus on adding doors to your management company.

I focus mostly on being a builder these days.

SF investing supports my lifestyle goals better than MF, because it is a lot more passive and I can focus on my other businesses.Which brings me to the next point.

For those that do not feel comfortable enough with excel to build out a tool on your own, I would suggest starting by taking excel courses focused on dynamic real estate modeling.

As you're just starting out in Austin, focus on learning the local market, particularly areas with good rental demand and lower entry prices.