After that, the tide usually reverses.STRs typically have large tax losses in the initial year of operation - but only in their initial year!

They often chose worse than you even thought.I just got good at flinching during the initial walk-through but you took it to another level! 

If you can stomach that initial phase you'll be in a great position when the property is cashflow positive and worth considerably more. 

Initially, I went through recommendations from friends or acquaintances. 

My initial concern was that my land business needed something drastically different than what Left Main was actually built for, and my purchase was a bit of an impulse buy after a slick presentation by their sales team and owner. 

New construction in appreciating areas offers long-term value growth, minimal repairs, and potential tax benefits, but often comes with higher purchase prices and slimmer initial cash flow.

Also, what are the most important metrics you go through during the initial screening of a listing?

My initial recommendation is tighten up your lease.  

Well, like any endeavor, you gotta get past the initial learning/no profit hurdle...any wealth building system is gonna be a challenge.

In the initial years, cost segregation and other deductions can often offset much of this tax, so UDFI shouldn't deter you from real estate investing within an IRA, as it can still be a lucrative retirement strategy.