They didn't pay for it, so they don't take care of it like an owner.Before you make assumptions about costs based on a seller's contribution to improvements, find out what they improved? 

If it takes you two months two find a tenant willing to pay $1,700, then you'll still basically break even in the long run - the net to you is the same. 

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

Some PMC's will charge a lower percentage fee, but will charge it whether tenant paying or not.

There is not a taxable event to you on the sale.

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

I am not saying everyone needs to pay for a mentor....there are multiple ways to get into the game.

Not too bad when the inventory is low, the number of sales is low (like a 30 year low), interest rates are high and prices are high. 

From what I've seen in this area right now, it seems like you'd have a hard time paying market LTR rents and making a good spread. 

I don't really want to go looking for the financing to pay him his balloon payment.