This requires doing math, patience and a learning curve.

I have financed a number of STR properties and they will usually be appraised as a pure real estate as vacant value and a cash flow adjusted commercial value, sometime separated as going concern and real property.  

A colleague of mine has bought two properties owner-occupied back to back in Arlington (with a 5% rate and a 7% rate) doing basement conversions and renting rooms, lowering his effective monthly payment on each property to sub 2K each time.

It's a low barrier to entry and a good option for you, I would highly and I mean highly recommend you focus on location.

It's a multifamily property in a good neighborhood with three units and a total of four bedrooms and three bathrooms.

My partner is based out of Dallas and a lot of our clients are from the surrounding areas.

Placing a deal under contract in Henderson and a few fix and flips .

These are professionals with additional training and a stricter code of ethics.

The property features a shared dock, 3000 sq ft of decking, and a fire pit for each cabin.What made you interested in investing in this type of deal?

PS before the hedge funds jumped in about 2011 to 2012 I was an activce courthouse buyer in Henry county and a few of the counties on the north side of Atl metro so been to many of the  auctions having them all on one day is a cluster .. you have multiple criers crying sales simultainously it can be hard to follow but you can also squeeze out one that folks missed.. we did quite well until the hedge funds knocked us little guys out of the area..