You can stay friends, but business is business.

And unless you have very deep pockets, you can't afford to be that much off....So as has been said....hire a very experienced General Contractor and have them give you a budget number based on your SOW, (plus they will find other things that need to be done that you will not have seen).On your succeeding projects, you do a budget yourseld first, then hire the GC and compare numbers.Then, eventually you will be comfortable going all solo...but it takes time.

Hey @Robert Carmody, we are only on AirBNB and VRBO and they work just fine.I have been reluctant to do a Booking.com listing due to the negative reviews I have heard from other hosts.Booking.com was geared towards hotel stays, which means your STR gets treated like a hotel room.

It all comes down to your comfort with risk and how fast you want to grow.

lat=43.1688001618486&lon=-77.6159378282709 I’d also suggest considering whether you live or work nearby, so you can stay informed about any developments. 

For example for me, CoC does not matter as I buy in A/B areas and I hold long term so I am comfortable knowing even if I have zero a slightly negative CoC to start over the long term it will turn and I will end up with a nice return after many years. 

Stay up to date on all licenses and permits that may be required. 

I think the concept is fascinating, and that it's in just the beginning stages, but here to stay.

I think it takes time for certain people to become comfortable and confident in what they're doing before real performance will show.  

Definitely agree with Kevin, a lot of insight in this one post, especially on staying practical and working fast to put a deal together.