Readers should seek professional advice.

I have a high income as a healthcare professional, so the negative cash flow I can easily manage. 

I specialize in STR's along the coast and have had a lot of success with MTR's for medical professionals as well.

Readers should seek professional advice.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

@Sendil Thangavelu you really need to hire a professional property manager or real estate attorney to help direct you in the right direction from now and the future

Rufo  Also consider the fact that when you switch from STR to LTR or the other way around, you will need your CPA/tax professional to do the IRS' 3115 change of accounting form to go from 39-year depreciation for STR to 27.5-year depreciation for a LTR.

As long as one person is a real estate professional, you can usually use rental losses offset joint income.

Readers should seek professional advice.

That easy question to answer will be a really great litmus test in your due diligence toolbox.If you are evaluating a REIT, it would be wise and prudent to do your homework and select the appropriate professional to guide you.