Be in a location that allows short-term residential rentalsIf the residence does not meet the standards for a conditional use, they cannot be waived.Any STR must be owner occupied would be a game stopper for out of state investors.

It is important to look for locations with strong economic growth, rising demand for housing, employment, vacation and infrastructure developments, as well as properties that offer the potential for value appreciation or steady cash flow.

I would probably refi into a DSCR loan.Aside from a relatively inexperienced builder and the risk of a development that isn't "established" yet, what am I missing?

This is my first property so of course it's harder to keep my head in the game with %100 vacancy. 

Hey Chris, If your agent is only using RCM, they might not be familiar with platforms like Costar or LoopNet (which honestly should not be the case), or they simply may not have the budget to cover the upfront listing fees, which can get pricey.I’d circle back with them, address the plausible elephant in the room, and try to figure out a game plan to get your property on these other platforms.

They have degrees and interests in different segments of what I think are important facets of the real estate game, one will be graduating with a degree in construction management and the other in accounting.

You might still make some money...or you might loose just a little while you learn....but I think chances are unless you totally mess things up or every part of the deal goes wrong, you end up with most of your money back....AND you learn and develop some relationships.

🌎 Hi, I am based in San Diego, CA.💫 We work with rental property
investors and I’m always trying to learn more so we can educate our clients.❓Any insight you could give would be great!

But do note that there are many of these "resort-developments" in the area.

@Jordan Sachs This is 100% a state law issue... developed through court cases over time.