We have bought only a handful of 2nds but to me, the 2nds game is a volume play.

They put their old hand me down furniture and cheap plastic Dollar Tree kitchen utensils in there, pass off the management to Vacasa or Evolve, and expected to make a killing.

Since you own a business, you know the importance of being hands-on, but short-term rentals will require a mix of sweat equity and automation, especially for guest turnover and property management (as an investor/broker I've worked with a lot of clients that have done STR, and are now pivoting to MTR). 

He has hands-on experience helping buyers/sellers/investors with all their real estate needs.

I want to be "hands off" for the development/management phase.- I would like to get a minimum of 12-15% irr on average, with potential for higher returns.- I have some past experience working with sponsors from PE funds on non-real estate deals.- I get an experienced sponsor/developer that can run the show so I don't run the risk of making any (very expensive) mistakes from my lack of experience.- I can get exposure to large multi-family with many tenants.

The goal is to get my own GC license but in AZ you need 4 years of experience (hands on or managerial) to even apply.

I have one right now that loss mitigation last week said it looked like a good offer and so it was handed over to their negotiator.

@Marlie EvansMy firm’s managing partner works hand in hand with the IRS’ head of Depreciation if you would like to know the guidelines on the matter.

I literally had the same issue with a landlord many years ago, and upon getting served, it shook the landlord so much that we settled for something that almost made me whole.

Next time you try your hand at raising capital you may fool some of the people who first balked at your credentials.