I don't understand your point? 

You will want to fully understand the tax reporting burden you will face. 

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

@Chris Morris have ALWAYS seen bad "deals" from rookie wholesalers that really don't understand what they are doing to provide value to the industry.It's getting worse because the real estate market has recovered from the 2010 Crash, yet many are still using tactics & methods developed during this time.Everyone in the industry needs to go back and look at what was being done BEFORE 2010 and start using those methods, updating them with current technology.

It's important to understand the zoning/code requirements and obtain all necessary permitting if you intend on operating your real estate as STR anywhere in the country.

I understand that completing long distances BRRRRs is a different kind of animal, so I am hoping to glean insight from investors who have successfully gone down this path.

I’ve been in the industry for several years, and my work has given me a solid understanding of property systems, maintenance, and what makes a home a great investment.I’m now looking to expand my own real estate journey by learning how to acquire and manage short-term and long-term rental properties.

Once everyone understand the mechanics, and the results for all: they'll keep coming back to the table!

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

As real estate investors and property owners, understanding the broader implications of this development will be key to navigating the opportunities it presents.Anduril Industries and Its Expansion PlansAnduril Industries specializes in advanced defense technology, including artificial intelligence, robotics, and autonomous systems.