Just bear in mind...you will probably operate in a grey zone (unless you open a business and get the licenses, which most people don't care to do) and obviously need quite some cash to get started seriously.

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Operationally nothing changes.  

Annually, Does the higher nightly rate but higher vacancy rate push off the highest operating income? 

Just to be clear here, while I have DM’d with you, Remington, I have not indicated that Reafco agents are or are not operating in line with what we are allowing on the forums.

I think novice operators are trying go too heavy on amenities to compete with the big boys/girls/people and they can't do it as well because they don't have the operational experience.Consistency is the key for new operators and that goes for quarterly photo updates, dynamic pricing, and communication.Too many people got into the space in the past three years who thought of STRs as passive income when that is just silly.

It explains why they are usually in the lowest barrier space within the industry (until recently not even a license was required & many still operate illegally).As a Philadelphia resident and active investor in the city I fully endorse investing in Philadelphia but only if you’re receiving sound advice. 

I suppose it's a lot easier for me to say/do this because I operate 100% electronically, but even if someone only looks at the sheet for a few seconds to answer a question, then I think it's worthwhile to include them.

Think it would be a great place to connect with other management operations and partners to bounce ideas, connect and potentially expand operations, etc. 

Request a detailed list of documents and information from the seller, including financials, leases, contracts, capital expenditures, surveys, environmental reports, open permits, and the Certificate of Operations.2.Physical Property Due Diligence.